I have also filed a claim against his insurance company with hope of getting at least our monies from the contract back.    

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

Second, the insurance is $1.5k which seems to be low as well. 

That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too).

Also, this would only remove the mortgage debt itself from your DTI if it was to work; you would still be hit with a liability for the annual taxes, insurance, and HOA fees (but also receive the benefit of the rental income).

(You know you’re on the right track and you insure future leases end between March and July by varying the length of the new lease.)Good luck. 

Start small and aim for properties that cash flow well, even after accounting for taxes, insurance, and repairs.Most importantly, keep taking action!

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

class action is what you see on TV  unless there is insurance money to go after you guys are going to have to pay a LARGE retainer to engage an attorney.. and if your deposits are only 40k or so Suing is a waste of time and money for any litigation that small

Confirm with the solar company if the loan is transferable and review terms carefully—it’s a potential hurdle with lenders or resale.A DSCR (Debt Service Coverage Ratio) loan might be an option since you’re focused on rental income.