Trying to balance cost and risk protection.

The land trust in and of itself won't offer you the protection you're looking for  - however - the land trust will list a lifetime beneficiary and a deathtime beneficiary. 

We all hope this doesn't happen again, but is there anything we as landlords can do to help protect ourselves from a new Moratorium of the future do to COVID-22 or something (God forbid...)?   

No more COVID eviction protection.

Call Child Protection Services for Michigan and have 1/2 hour talk.

I suspect NY in particular was holding the $ to use for other things knowing tenants would not suffer from the moratorium in place. 

The untold story is the number of hours and suffering that went into their dream.All-in-all a great business to be in....but no, not easy at all.....

"Airbnb's Host Guarantee is a property damage protection program. ...

I want to make sure that we're both protected.

Read section 21 of the CA Residential Purchase Agreement (assuming you transacting on this document).I've not been through mediation or arbitration myself, but if the buyer removed all contingencies when he submitted the offer, then cancelled, AND you suffered actual damages (a subsequently reduced sale price), your case seems pretty iron-clad to me.I believe you can enter mediation and arbitration without a lawyer, so I say go for it!