Again, it's hard to have this conversation when talking two different languages...Unless you're marking up materials a LOT, that 70% of your revenue is presumably at a relatively low margin. 

We can presume that for the most part mortgagees simply do not lower rates of interest for the heck of it.  

All this is along with a list of other not so troublesome issues in Schedule B - Requirements (which I'm presuming are boiler plate). 

I presume this means that although interest continues to be incurred, the interest is not capitalized to create a new, larger interest-bearing balance?

As they are 'clustered' (and presumably occupied) but still depending on their individual overall condition and how well they are managed, they present an excellent opportunity to gain direct insight into the local market dynamics; vacancy, operating expenses, etc.One strategy you could consider is the old 'worst' house on the street approach.

Wait 12 months with (presumably) zero claims and ask for a reduction or shop around again.

You are the manager of the Llc I presume.

Somewhere between the 2 negotiations, he became worried about filling the vacancy presumably before the fall/winter.

I presume this will be handled with a title company.

Low cap rate, but presumably a long term performing tenant/cashflow.