Can you decrease your debt or live more cheaply if need be?  

Peace of mind from less debt.Pros for taking out the line of credit: We could capitalize on the SFH's equity (while still keeping it as a cash flowing rental- although the high monthly cash flow would decrease -  and avoid "parking our money" in the home's equity. 

As rents increase I'm sure crime will also decrease. 

One thing supporters of rent control here in Sacrament don’t seem to take into consideration is that rent control might not even work…https://www.mercurynews.com/2017/11/01/bad-news-for-tenants-bay-area-rents-are-still-rising-in-dozens-of-cites-across-the-region/https://sf.curbed.com/2017/11/3/16603900/rent-control-san-francisco-stanford-study-gentrificationQuote of the day: ““We find that six percent decrease in housing supply led to seven percent increase in rental prices.”

At the time the condo value decreased to about 160k and we decided at the time if we could just rent it out to cover the mortgage and fees, we could make some equity and sell it later even though we werent making cash flow on it.  

New York-Newark-Jersey City, New York-New Jersey-Pennsylvania Population decrease due to migration, 2010-2017: -21,503The NY MSA, a huge area, had a decrease between 2010 and 2017 of a whopping 21,503!!

The agreement also includes language that if tenants are unable to pay the decreased amount of rent between now and the end of the year, eviction proceedings and garnishment of wages for the full amount due will commence the following day.

I guess my other question is wouldn't cash flow potential increase over time as your mortgage cost (the interest payments) decrease and you can increase rent. 

Does the billboard company have the right to terminate the lease if a structure is built that blocks the sign or decreases the visibility?

And you don’t want to pay them off because that decreases your return of equity.