fwiw, here in Oregon if you want to go after the Fed funds for unpaid rent you must get the tenant to sign a declaration, you must be willing to forgive 20%, it will only pay up to the moment you apply (no word yet on future unpaid rent) and most importantly, at least here in OR, is that the way the money will be doled out is based on a complicated algorithm based on how many rentals you have, the percentage of total possible rent that is actually unpaid, if your rentyal is low income (becuase i giess they assume only low income places are not being paid for - not!!) 

Text of the Q/A:https://www.cdc.gov/coronaviru...What can a landlord do if a tenant has declared that they are a covered person under the CDC Order,but the landlord dodoes not believe the tenant actually qualifies?

., etc......I called the NYS COVID rent relief line and there is nothing on file for him or his girlfriend, therefore nothing is in place concerning a COVID declaration that I would need to adhere too and the deadline to file for assistance was 1 Feb 2021. 

Now, if you are willing to look further outside LA proper, I am sure you could find something in that price range.I don't have any knowledge regarding the rules and regulations that come along with declaring personal bankruptcy.

Although we haven't had to retain an attorney in Dayton only because of the moratorium's in place, this website may be of value to you https://www.justia.com/lawyers...Be sure to serve the tenants the required covid-19 declarations before moving forward. 

Are tenants still protected from eviction, under the CDC declaration, under a month to month lease? 

Tenants can invoke the protections under the CDC Order only if they give their landlord a signed declaration and truthfully state that they are unable to pay their rent for a COVID-related reason, have tried to obtain rental assistance, have made their best efforts to pay partial rent, have either received a stimulus payment or will make less than $99,000 this year, and eviction might leave the tenant homeless or forced into a group living situation.If there is no signed declaration, have your friend contact a local attorney to walk through their options or to talk to someone at the county court about what steps they need to take to evict a tenant.

I'm not even getting warmed up yet, every ridiculous gymnastics of data to declare "THE END IS NIGH", I have no less than 3 direct data points that clearly point out no 08/09 repeat.

I agree that S-corp is a bad idea because you can't distribute properties out - ever without generated a taxable event - not because of the k-1 not allowing you to declare losses. 

I'm not an Accountant, but my instinct tells me that a good time to sell investment property is when your other income hasn't already attracted a hefty tax bill.And, there's a lot of talk on BP that now could be a good time to sell anyway.But to answer your question, as others have said: Yes, declare all income and tax deductible expenses, using professional help.