Stop the bleeding: starting now lower the rent back or at least back to rent + 10%.   

It's essentially what you feel comfortable with in terms of risk and how much money you want to bleed out to the bank.

One builds it, next generation mismanages and bleeds it dry, third generation goes bankrupt.  

My suggestion is get some info here and then find an attorney who knows Sub2's well to help and guide you through it, especially since it's your aunt. 

You'll probably have more luck bleeding a turnip.This is exactly why I don't mandate insurance.

I hear too many horror stories of 3rd party property management companies that don't have the owners interest at heart, and bleed the cashflow out of a property.

If you're plan is only to help others once in a while, you'll quickly start to realize that between membership dues (NAR, MLS and local Real Estate membership dues) not to mention monthly office desk fees (regardless of whether or not you work from home) and yearly fees associated with yearly 6 hours of required Continuing Education courses will keep you in the red and start to bleed you dry if you don't have enough business to cover these recurring costs.  

You're losing money every month and you have to stem the bleeding. 

Seems like a viable strategy, but make sure you account for all the expenses so you aren't bleeding too much cash while holding.

As an affordable housing manager aka -slumlord ,I find it very comical  big difference is your hands on.. if your hands on you can make these mom and pop deals work.. your not and its usually a slow bleed and you end up picking it up for half of what the person paid for it.. thats how that cycle works.