The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

I would apply the cash flow to pay down the debt and hope to have significant passive income (or equity to put into something else) in 10 years.

Raised properties income from $2400 to $4300 and living for free in a massive 1600 sq ft 3 bedroom.

It's a good way to marry rehabbing distressed real estate equity capture with long term note income for retirement accounts for those that are interested.

If the rental income from your condo can comfortably cover your mortgage and leave you a little profit, moving out might make sense.

I used my tenant income and w2 income to put towards the next phase of rehab.

TheLoss of Rents is for the loss of Rental income if the tenants can not occupy the houseafter a covered loss.5.

They mentioned they didn’t need any income.

As noted above, up to 50% of gross rental income normally gets eaten up by expenses (taxes, management fees, utilities, landscaping, repairs, capex, etc).

We are retired and I have to convince my wife.