But I had a moment and thought I'd toss this out to the crowd to see about strategic options.My wife is one of three siblings.  

In most cases for folks this is a parent, sibling, etc.

I inherited a  rental property ( house & 2 bungalows all on same site ) it is free and clear no debts, I own 50% other share is sibling, we have both worked on this property for years together and have no issues managing the property.

As long as I'm paying the rent (even though I'd be living for free due to renting out the other units, so I guess I mean to say as long as I'm not charging my sibling rent to live there) would I be in violation of the loan?

As long as I'm paying the rent (even though I'd be living for free due to renting out the other units, so I guess I mean to say as long as I'm not charging my sibling rent to live there) would I be in violation of the loan?

This may be more of a question for an accountant or an attorney, but this community is great, so I am hoping somebody has some wisdom to pass on.My mother owns a vacation home in Michigan that myself and 3 siblings will eventually inherit. 

As I mentioned in the first sentence, I grew up in a multifamily home in LA and when my suddenly passed away my oldest sibling stayed in charge of it.  

Most likely me and my siblings are going to pay but would prefer a more reasonable number.  

I have never owned real estate but I did grow up in a multifamily property which allowed my mom to provide for me and my siblings.  

Its like having an older sibling that makes you learn things faster ;).