I can also protect my investment if my partner takes bankruptcy, just as any lender may and, in some cases more so as loans are subject to cram downs, reduced principal or interest more than the interest of a partner might be.I've probably had about 40 borrowers die.

The second insurance company will usually at some point pay off but you are all caught up in the middle and during all this time you have paid twice the insurance amount, therefore reducing your cash flow.Also remember that you have to change the policy from a homeowner policy to a Landlord policy, which will be a higher amount. 

This reduced my rentals and there was more competition as newer high rise condo buildings came in.

Consequently, it's virtually impossible to get to the properties when it's snowing so we try to prepare the tenants to help themselves.If we had regular snow, we'd do a snow blower and clear after the bulk of the snow was done.

Your money is made from April-Labor Day and hopefully monthly rentals from Snowbirds :)No on reducing Management fees.

I also have found that they currently have the house up for sale on the MLS for $188,000, reduced in price twice since Aug 2013.

I am thinking to at least reduce the monthly lease payment to $600/m (fair market price) with no money going toward balance.

Let's use $2K/month as an example.2,000/month x 12 payments/year = 24,000/yearBi-weekly at the same rate would need to be reduced to = 24,000/year.24,000/26 payments = $923 per payment$923 x 2 = $1846 which is going to be short $154 of what is due, not to mention the payment to the bank is due on the 1st, not randomly throughout the year.

As I understand it, if you have not reached full retirement age, 66, your social security benefit will be reduced if you exceed a certain earned income.

Can you pay out of pocket at reduced expenses to fix it up?