If so, renting by the room could be feasible.

Forms DCE) shall be required.n If checked: Buyer and Seller agree notwithstanding that Buyer may have removed their loan contingency, if Buyer’sinability to fund their loan and Close Escrow is due to Buyer’s loss of income from COVID-19 related issues, theneither Party may cancel the Agreement and Buyer’s deposit shall be returned to Buyer, minus fees and costs incurredby Buyer.

I’m wondering if this is a feasible plan with a budget that caps out around $320K.

@Darren LookerIf the mutual funds have an unrealized loss, it may make a lot of sense to sell the securities then transfer cash to the grandchildren to capture the loss, although it would generally be capital in nature (limited to a max net deduction of $3,000 per year). 

And wouldn't loss of rentals be last years rents minus this years rental as of now?

What should I put for loss of income?

I suspect lenders will want to see that.this is not owner occ issues landlords are a for profit business profit or LOSS.. so they will be treated differently I suspect. but end of the day i don't think those holding mortgages want a repeat of mass defaults and will come up with creative workouts for borrowers.. 

Has anyone spoken to their insurance companies yet regarding if a loss of rent policy is included if tenant's simply just cannot pay rent and by law cannot be evicted?

Not trying to scare you....just trying to educate you.Between 2009-2011, 3 out of 4 Real Estate investors I knew sold off their houses, at a loss. 

Otherwise, the rest of my tenants are teleworking for now.I was just beginning to worry about not having my carry forward loss for 2020... funny how things workout!