More and more investors are looking to assume low-interest loans rather than deal with reduced cashflow thanks to today's interest rates. 

In the long-run this could reduce turn-over, maintence costs, vacancy and the need in the first place to have to offer $500 discount off the first month's rent.

In addition lower rents will decrease the value of a property, not necessarily its appraised value, because no buyer will desire to pay retail for properties with reduced cash flow.

With that said I feel like I significantly improved my position and reduced my stress..Being  high income earner is great, but the goal is what you keep and what you spend.

As for your neighbors, they could have exemptions like Homestead, widow, military disability and many others that can reduce the amount of taxes.

Remember that the leveraged purchases are not going to add significant cash flow immediately and borrowing against existing properties will also reduce their cash flow.

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

Do you think certain methods help reduce late payments?

After purchase the assessment office was given the survey and quickly reduced the acreage for taxation to 1.8 acres also. 

House hacking with an SFDU could be a smart first step since it allows you to reduce your housing costs while building equity.