Thanks so much for sharing your wisdom and experience during an uncertain time. 

During these uncertain times look for virtual conferences you can attend for free to learn AND stay safe.

We can live on just my salary and also have an emergency fund that will last us for about 6 months if we would both loose our jobs.Would you advise to continue with buying this property, should I try to negotiate the price down due to the uncertain situation, or should I totally back out and take my escrow losses and look again when things settle down?

During these uncertain times look for virtual conferences you can attend for free to learn AND stay safe.

The various ways to approach this has me uncertain and nervous.

The judicial is supposed to interpret law, but they have been legislating on their cases too.

If it is keep it up (or see if you can take advantage of Covid legislation with your mortgage company to tack it on the back end and pay down your CC debt instead).

Additionally, since the current economic problems cause by COVID-19 are expected to produce lower income in 2020 than in 2019, the law provides that a taxpayer can elect to use the 2019 Adjusted Taxable Income in place of 2020.BONUS DEPRECIATION FOR QUALIFIED IMPROVEMENT PROPERTY (QIP)The CARES Act cures a legislative error under the TCJA and provides that the costs for Qualified Improvement Property are eligible for bonus depreciation.

My fear with a lot of the no-eviction legislation is even people who can pay their rent won’t, because there’s nothing their landlord can do to them at this point.

The current situation has slowed things down, people are scared, investors are unsure about moving money around both the stock market and RE markets are uncertain.