Charlie thanks for the response. 

I appreciate the response and will contact Cohen after the holidays.  

@Eric Matuszewski - you are asking the right questions and you have already gotten good responses.

We have some standard responses to over-the-top demands:"That would be very difficult."

You are also now responsible to all terms or risk losing the collateral. 

Until he learns the regulations he should not be dealing directly with tenants.You are responsible for learning your state regulations and can usually find them on line.

You can simply take a survey of the neighboring properties to find out their gross income and expenses and base your number off of that.

@Elaine Fawcett Thank You for your response!

I totally agree with you, Anthony, and it makes much more sense to me now after reading your response, so thanks again for sharing.Another long-term goal of mine is to own and operate a vacation rental in Orlando/Kissimmee.

Thank you for your response.