We can sustain 20% in loss rent indefinitely.

It’s not called “passive loss”.

Especially in this economic climate, nothing will happen except for loss of deposit. 

@Josh Smith have you done any diligence or feasibility studies on if there is solid demand for it?

But, if you're not confident that you know where values are headed, and aren't prepared to take the risk of having to hold a property long-term (or take a loss), it's probably better to wait.

Operating costs are much lower which offset the loss in revenue; I find that many of my properties cashflow better this way.

As the wholesaler, do I or Steve contact the Bank of ____________ to validate the agreement / I imagine the bank would prefer taking a small loss as opposed to foreclosing and incurring significant legal and management costs.

There is no compelling reason for a seller go give up equity right now, even job losses and missed morgage payments will most likly be counter measured by the government.

Price in 2 months of loss rent or debt service plus some buffer.

Well, there will obviously be many more deaths still yet.. but also, the aggregate economic loss from the shutdown and reverberating effects is going to be far greater than just what the government spends on stimulus.