f you're in a good spot with your rental income and keeping a reliable tenant is more important to you, dropping the rent to $2200 might be worth it.

It's not worth the damage it can cause, even if I got stuck with the heat bill until resolved. 

I don't have so many rentals that I can't balance them, and I found that the extra ~1 hr/month (usually all year's time in 1 month) is worth it to have a pulse on your property, decide the specific repairs, etc.

@Brian Varbel...It's probably worth the money upfront.  

This development will be worth north of $20 million when it's done.

Just trying to figure out which amount is actually going to have to be repaid so they can decide if its worth doing or not for them since the completion of the case is so close.

The headache was worth it.  

On top of the Cash on Cash return, real estate provides major benefits in 3 other areas, namely – Tax benefits, Appreciation, Leverage.If you calculate the return on net worth, a 7% CoC deals can often turn out to be 15-20% return on net worth!

Remember that this rule of thumb is only an estimate.

Frankly you may have to decide between a) insulation value, b) historic charm or c) cost/budget..... you probably will not be able to get all three.....So first just be aware that this 'exciting' journey will be very costly (in my experience) so determine the project budget first and see how much your ROI will suffer (it will) and if that is worth it to you.