Unfortunately, the mortgage company can take your property, so the only solution with tenant parity is to add the missed payments to the end of the mortgage and they are effectively skipped.There is no free lunch here. 

Provided you financed with FHA...One solution (What I'm almost through now) is if the property appreciates, refi into a conventional mortgage (You need 15% equity min. for a 2 family owner-occupied to do this).

I've also heard Solutions For Real Estate is a solid one.

If you are seeking other solutions to solve capital gains, consider it may make sense to participate in a direct syndication or fund that has a high degree of asset depreciation, which will allow you to offset all, or a portion of your capital gains and stop kicking that can down the road.  

One of of two does have a solution.

What's a good solution where both my cousin and I would benefit?

That'll give you a little time to find another solution maybe. 

Also has a company ready to go do come clear and flatten the property.default amount $130k repairs $25-$30kARV $200-$205kArea : C+rents in area $1000-$1200trying to think of a solution for him or what strategy would work best!

This is typically not a permanent solution unless you can get at least a 10-year balloon and exit before then.

There is always a solution.