To take a step further, you can also add a 3rd sub-account for the income/loss allocation to capture the tax basis balance as Lance mentioned.

, and walking or biking to a local food market will be important.

It depends on the amount of loss incurred.

Food for thought.  

You can't enforce it in the middle of the food chain, it needs to start from the top.

The LLC make no difference as to Profit and loss except that it will cost you money to have an LLC(deductible) The property could be deeded to the LLC.

, what makes you think they'll take a $20k+ loss after accounting for closing and selling costs?

If they are unable to pay their rent due to loss of job, that under the emergency orders, they are required to notify the landlord of the need to suspend or lower payments for a specific period; they will also need to file for unemployment and housing assistance.

Hard to say yet if more "deals" will surface as people face financial difficulty and job losses, so I'm would keep an eye on inventory levels.

Unforeseeable EventsYou meet the standard requirements if any of the following events occurred during the time you owned and lived in the home you sold.Your home was destroyed or condemned.Your home suffered a casualty loss because of a natural or man-made disaster or an act of terrorism.