That property had code violations so there will likely be preservation type fees, even if the lender didn't do very much.  

Trusts help to preserve the full value of assets and ensure that those assets are distributed to their intended recipients.

It is always wise to preserve one's equity gains.  

Information security is a critical component for institutions to preserve in order to protect customer information, as well as maintain compliance with laws and regulations regarding customer privacy.

So outside of that idea you would need to redeem the senior position to preserve your interest in the property.  

If you want to preserve the relationship, don't buy the property unless you are prepared to stick with status quo....with a smile on your face the whole time.

And, I do it because it's the only way I know to create a secure financial base for my family while preserving the sort of family life that is important to me.So, if you continue with your efforts at REI, hopefully you love it or you NEED it. 

By using borrowed funds, investors preserve their own funds to keep sufficient Reserves on hand.

I do know if in a historic district you need committee approval for almost everything.If they want exterior and interior preserved to perfection than your projected costs could go much higher.If this project represents a large portion of your resources then it would be a NO for me.

Is there a certain amount of cash flow that you want to achieve coupled with your consulting earnings and social security, are you looking for capital preservation, are you looking to continue to build wealth to hand it down to your children, relatives and charity, or all of the above?