It’s crucial to have a solid agreement to mitigate these risks.The Ugly: Without clear agreements, co-ownership can lead to legal battles, credit issues, and potential loss of property.By carefully planning and seeking professional advice, you can navigate this situation effectively and find a solution that works for you and your family. 

Your thoughts and suggestions are greatly appreciated.Leticia My view is AB1482 requires you to negotiate with tenant any significant change of lease terms (loss of garage definitely a change of lease terms, loss of yard and construction zone may be change of lease terms) and your tenant can likely block your efforts.  

If he is broke, its just a waste of your time, and I would say cut your losses now and consider it a lesson learned.

Finally , I have found a realtor company three years ago in PA.They helped to sell the property for 90% loss.

Otherwise, it is pretty hard to claim the loss as STRs are generally very profitable.

Even if not required, I suggest getting rental loss coverage on your deals. 6 months is suggested.

If you cut your price to $1350 a month and placed a renter after 30 days, your total loss would be must smaller.

I am currently using Avail which I found to be a very intuitive light weight platform to get started.  

We don't know what states the properties reside.Florida, Georgia, Hawaii, Illinois, Indiana, Montana, South Dakota, Virginia have different laws.Oh, and by the way, an attestation to the insurer and others (mortgagee) will not change premiums nor constitute a “sale.”There are considerations such as the loss of asset protection after judgment (beneficial interest is personal property, not real property), but if the property is clear of a mortgage and the concern is title theft (a concern you raised), then putting the property into a land trust is probably a lower cost alternative to maintaining a debt (which irritates the wife). 

I figure I'll get losses of 20-30% of the purchase price as a general rule.