If it's in your name you can look into the potential for a HELOC or potentially refinance to pull out some of the equity you've created, but you'll need to do the math to see if you're payments will increase based on the new loan terms.

Plan was to do self storage; then found out the creek that sits a ways back flooded 5 years ago, not in a floodzone but all the locals know so self storage is a tough sell at this point. 

save enough for a down payment and invest in loge term hold.  

I just had a bank tell me that per new Fannie guidelines, the minimum down payment on a 3-4 unit is 20-25%, even if it is bought as a primary residence.

You may want to look at concessions to help cover costs or buy down your rate to a comfortable payment. 

Indeed, the FAIR ordinance is anything but fair to non-corporate landlords, seemingly punished for investing in rental houses to generate income as an alternative to stocks and bonds.A handful of opportunists likely could learn to exploit these new rules, preying on otherwise law-abiding landlords to obtain legalized shake-down payments.

Research sold properties to see if the #s would make sense given your projected down payment amount.

I just look at it like a 12-15% down payment, which I can stomach.

Then Joe sends a letter to Bob and says I bought your mortgage make payments to me.

If she doesn't pay the rent in Jan, start by following your local rules for non-payment of rent (normally a 10 day notice).