Income Property: Rachael and Steve

Rachael and Steve are both athletic and love getting off the beaten path in far off lands, but these days their biggest passion is their two young daughters and the adventures of home ownership. A few months before they had their first baby, they decided to give up their tiny inner city loft for a more conventional, fully renovated house with an attractive basement apartment that was ready to rent. They moved in a month after their first child was born. A few weeks later, the basement apartment flooded and mold was discovered. They promptly moved out for three months. When the issue was resolved, they returned and slowly Steve worked after-hours and weekends to reconstruct the parts of the apartment that had to be stripped out and waterproofed. Now with a second daughter and Rachael on maternity leave for a second time, there's no time or energy to renovate, let alone make design decisions. It has been months since Steve has done any work on the apartment. Their high monthly payments and reduced income are making the financial situation completely unmanageable and they are at risk of losing their home if they don't get this apartment rented.