File a claim against the renter who didnt pay you, be willing to settle for 50 %. 

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Is it unrealistic to expect that to work or should I rethink my plan? 

Previously, if a married couple had depreciation deductions that exceeded their real estate business income, the couple could claim that "loss" to write off taxes on a maximum of $500,000 in income from other sources, like wages from a day job.Under the change, our rich taxpayer couple -- and this applies only for individuals, not corporations -- can now deduct an unlimited amount of "excess losses" in real estate against income from other sources.

Depending on how broad such exclusion is, an insurance company may challenge the right of a business to file a business interruption claim. 

There claim is from reason of uncertainty of if and when the economy will ever recover and longer projected time frame in leasing and secure a tenant.

You will be able to in the near future to take over house payments, be sure to do a quick claim on each house and work out the numbers.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Since Property #1 has a loss of $10k, will I be able to claim those losses?  

In the half-century that the government has tracked applications, the worst week ever, with 695,000 so-called initial claims, had been in 1982.