I will share that I have had a number of my clients that own rental properties  report to me that they have been contacted by FEMA for generous leasing periods for relief workers that are coming in waves, as we are still in clean up mode in some areas.

This part might be slightly different if its considered a complete liquidation.The only good thing about this scenario is that your property would get a step up to basis to its current FMV and if you start depreciating it - you would factor in the new basis for depreciation...Still you likely lost the $500,000 gain exclusion...You may need to reach out to a CPA to double-check if there is any case law for the IRS to provide relief in your case...Please let us know what your CPA says; i'd be interested to hear what he says!

We have 300 days of sunshine, amazing access to the outdoors, diverse cultural draws and relatively mild(ish) weather.I sound like a Dept of Commerce ad, but all in all I think it's pretty safe to say that if marijuana were outlawed again tomorrow, we'd have a slight relief in the absolute insanity that is our housing market and an equal amount of relief in the unbelievable traffic issues we're facing right now, but not so much that it will ever go back to the "good ol' days" when an oil and gas bust in the 80s decimated the state.

Sure you'll have good and bad renters but you could have people who deploy and there are very specific federal rules under the SCRA (Servicemember's Civil Relief Act) that protect service members. 

From there you'd have to verify if the Motion for Relief from Stay was ordered by the judge which then allowed the homeowner to sell their property.

A bill passed the House yesterday that would grant additional relief on top of what the IRS granted immediately after Hurricanes Harvey, Irma, and Maria.

that is such a relief!  

I've been making payments in PSLF for almost six years now and once its done it will be a huge relief (for both my wife and me).

I know there are funds available for rent relief - not sure if this would apply to these tenants or help your situation.  

Does Atlanta or GA offer any sort of COVID relief program for their tenants?