There are endorsements that you can add that will cover certain things and depending on the property and situation they can make a big difference. 

Whoever is you PM can do this as you instruct.As @Linda Labbe states there are a number of possibilities for how you set yourself up but they are very dependent on your personal situation and what you are trying to achieve.

OK so here's my situation.

Depends on your situation as always. 

Definitely a block by block situation. 

If you truly feel the situation has not been handled correctly and the agent was negligent in their duties, take it up with your state's real estate commission and let them be the final judge and jury.  

First off here is a little about my situation. 

I am close to the situation and want to see him succeed but I may be just overthinking it.

It wasn't a situation where we could just drop rents incrementally, but rather that there wasn't any money in their accounts. 

Between the currency and the inheritance, you have a more complicated situation than most of us deal with.