If there's no equity in the rental, the only way you could lose it is if you stop paying for it.
It sounds like bankruptcy would make sense in your case ... even if your monthly income is too much to be in a Ch7.
You haven't given enough facts to determine whether bankruptcy is your best option. I'd strongly suggest speaking with an experienced bankruptcy attorney who can go over all the details and give you a recommendation.
It depends on why the title is in someone else's name. If you don't have title to the properties it's not your property. However, depending on how the title was vested in someone else, it could be considered a fraudulent transfer. The trustee can avoid any such transfer, meaning that he/she can bring an action against the title holder for the value of the property, or the property itself.
I can confidently say that such an arrangement is going to draw a lot of scrutiny the bankruptcy trustee. You are going to need to speak to an attorney.
The information provided here is intended to help you be an informed legal consumer and is not a substitute for representation by an attorney.