Cut your losses and move on, if you have to, but move!

The deal is structured as a profit participation agreement with shared percentage of profit or loss.

We can live on just my salary and also have an emergency fund that will last us for about 6 months if we would both loose our jobs.Would you advise to continue with buying this property, should I try to negotiate the price down due to the uncertain situation, or should I totally back out and take my escrow losses and look again when things settle down?

Their renter's insurance is where food loss would be recovered.

You know, if my renter doesn't pay rent I can just "write off" the loss rent.

Businesses with losses can carry back net operating losses (NOLs) to prior taxable years and get refunds of earlier taxes paid."

Although I know this isn’t the best time to buy I won’t be taking huge losses on the appreciation aspect.

Can deduct unlimited real estate losses off regular wages, no income restrictions, and retroactively to 2018. 

Will Class C type tenants be the quickest to bounce back from job loss as they shift to these new employment offerings with greater ease.

I have nearly flawless credit but don't want to tank it by getting pre-approved unless I have a feasible property to move on, but I feel like it's a chicken vs. egg scenario.