See the attached breakdown of losses for more details.

If you qualify, you can use passive losses, like those from depreciation, to offset your active income.

For instance, things like death, divorce, job loss, natural disasters, heath issues, etc may cause you to change your plans unexpectedly and may change what you do with your home as a result.

If even 1 tenant was not paying on time, it would report a loss.

Yes it explicitly allowed things like the term and rate, and I wrote that it should exclude anything additional which is unnecessary since I couldn't be there to read the closing docs themselves (which I assume can vary depending on what the branch leader/loan officer wants for the nonconforming loan).  

Because of the balance sheet is off you can certainly bet that something is wrong with the profit loss statement. 

If so, what success or loss have you had with in since Covid19?

Talk to your tax advisor about how to release your passive activity losses based on your situation.This post does not create a CPA-Client relationship.

Staying on track with timelines was crucial to avoid unnecessary holding costs.

Other sources have certain loss limitations.2.