If a tenant asks for a lease modification because of a loss of job permanent/temp/reduction in hours/reduction in pay.

If you had your agent handle the rental and they didn't verify any of the paperwork or employment, I'd be asking the agent to cover all my losses. 

Loss of revenue - combined with the payment plans, we are seeing a spike in skip/lease break activity as residents are forced to make sudden and unexpected life decisions.

But, I believe urban areas, like Minneapolis/Saint Paul where I am, will see a large temporary loss of STR inventory, and most of that loss will be from the bottom of the barrel, because they aren't profitable enough to justify the risk, but the highest performing STRs will of course stick around, because they're doubling or tripling income from LTR.I also own a duplex in Rochester, MN a few blocks from Mayo Clinic, that I'll be putting half of onto airbnb when it's done (I wish it was ready so I could help some healthcare folks out).I think it's like most industries though, the most robust and efficient businesses will withstand this crisis, while the weaker, unfortunately, might not.Just to predict, I think across the airbnb platform we'll see a temporary (maybe up to a year after the crisis comes to an end) drop of inventory around 10-15%, but I think bookings will drop by less than that amount (after the quarantines stop).

If they can’t do that then amend to subtract losses from security deposit if that’s legal in your state.

What uses that are legally permissible and physically possible are financially feasible?

Here's a thread about this... https://www.biggerpockets.com/forums/51/topics/820321-cares-act-real-estate-depreciation-loss-carrybackYou still need to be a qualified real estate professional to enjoy this provision.

We still have loss but better than not having anything at all.

This would alleviate finding a tenant and find a lender who will loan you on the basic of potential rental income.Just remember that lenders use 75% of the rental income (not 75% of your rental profit/loss). 

You can claim this loss and there's programs that will help you with this financial loss.