Am I SOL because I rent that place out, even though I have massive equity and outstanding credit?

Folks - BO does the best it can to isolate good commentary from not so good, and save you the pain of following bad advice.

@Karen Harris,I'm going to go a bit off the board here and offer this suggestion:If your husband is ok with you doing as you see fit with your inheritance, than invest it in building and funding a business entity structure which can invest in properties keeping your personal assets isolated while also shielding the two of you from the liabilities which may arise from those investments in income property.

You don't seem to be out in an isolated area so you really need to address the privacy issue.

Helmut:I assure you, I do not use the so called 1%, 2%, etc rules of thumb when analyzing a property ... nor do I put excessive credence in GRM, CAP, CoC or any of the single point-in-time ratios in isolation.  

Probably looking at $10,000-$20,000 to fix isolated areas that are crumbling (and I mean crumbling), or about $30,000 or fix the whole foundation. 

My own preference is to isolate those activities into different legal entities, even if it's just different series under a series LLC.    

We thought it was isolated to a few people, but it looks like it hit more than we thought.  

Done properly, its way of isolating assets so a lawsuit involving one asset (hopefully) doesn't affect others.But, conventional loans (i.e., low rate, 30 year fixed rate loans) are available only to individuals, not entities. 

A pressure test could have been done on the water line to isolate any leaks at an additional costRunning a gas line could create additional costs for you over and above the $1000.