The loan documents say you cannot destroy, damage, or impair the property, or allow the property to deteriorate. 

Property managers are scarce and the environment on Guam deteriorates houses at a much faster rate than in the states.  

Overtime the building deteriorates and you have to maintenance it just to keep the value at bayyou willing to take that risk for cash flow?

*  What requirements and contingencies (i.e. umbrella and earthquake insurance policies; ex to forfeit some or all of her share of equity to make me whole, etc.) would you include for protection against possible forms of loss (i.e. lawsuits, natural disasters, mortgage default, property neglect/deterioration, etc.?

Just looking at those listing photos is depressing; the nasty old painted trim, deteriorated finishes, tiny cramped bedrooms....ugh! 

Primarily because not much history and deterioration happened since they were built and sold the first or second time.

A lot of small mulifamily owners incorrectly assume that deferring maintenance will save them money (it doesn't in the long term)  that leads to the deterioration of buildings, also these units tend to have some of the cheapest rent in town and can be poorly run. 

He said the old iron pipe had deteriorated and he would have to cut in to the wall to replace the drain pipe.

Keeping a property means that money is locked up = no more fees and deterioration & more upkeep = lower resale value.  

Immediately upon crossing 23rd to the south or 30th to the north, conditions deteriorate, sometimes rapidly, however, intermittently to the south, one finds blocks of grand old homes restored to their former glory.