Account Closed unless you have a family 2k sqft is completely unnecessary for most people, and if you are renting someplace that has 2k sqft now for $2k you're doing pretty good, heck even for a 2 bedroom $2k is pretty good in LA. 

Under the CARES Act, net operating losses created in the 2018, 2019 and 2020 tax years can be carried back five years with no limitation on their usage.LIMITATION ON NET BUSINESS LOSSESPrior loss limitations imposed under the TCJA are suspended.Under the TCJA, taxpayers (other than C corporations) were limited in utilizing net business losses (i.e., business losses in excess of business income).

Check whether the terms of the insurance policy allow for the filing of a business interruption claim as a result of shutdowns imposed by government authorities.

Are we about to spend unnecessary money?  

He's a genius because he found a message that resonates with the average American who lives paycheck to paycheck and is saddled with debt from unnecessary purchases.

No, you can’t force a foreclosure and You would have no recourse....the city could impose fines against the Owner. 

In other words, a few people might do this and get away with it for a month or two or three, but there's no way the laws are going to be changed in all of the Western World that is going to favor squatter's rights, and when this crisis subsides those few who do so will find they have wrecked their credit and created unnecessary chaos in their lives. 

Does anything look unnecessary and/or missing?

Unnecessary traveling or entertainment would increase the virus spreading rate, and more people will die.  

With $500k I recommend a multifamily in an area where zoning an ordinances for running vacation rentals is permissible -- Miami Beach as a City leans on the side of the hotel industry most of the time and imposes fines for un-approved operators of vacation rentals.