They have properties worth $200, 300, 400k and their Tenants are behind, way behind.

If you didn’t think $6k was worth it you might find it’s under $5k.

Maybe selling is an idea worth considering if the house is a Mona Lisa and kind of beyond the general reality of typical tenant's maintenance obligation and ability, and they aren't paying for the additional quality.If you really want to keep the home, you may find a way to be very happy about it with the right team, whether it be property management, electricians, contractors, or tenants.

If they are at $260 per sqft, then that is what it is worth.

Those horror stories are typically from amateur landlords that don't know how to screen tenants.

Do you typically pay someone to install? 

How frequently does one typically make deals after the first deal?

That being said, I have no idea what the land by the airport is worth or what they will be able to do with it. 

If a Room for Rent is worth $1000/month, then reverse amortization at current interest rates between 6.5-8.5% for 30 year mortgage would set the price between $130,000 to $158,000.

So if it takes 10,000 calls to get one closed deal  that's $4k per deal which would still be worth it.