This would be terrible for someone who has not already collected rent and hopefully built up reserves.Good luck

Right now, I've hired a lawyer to send a debt collection letter for me and hopefully after the COVID-19 is under control, I can visit the office in person to see about a payment.

If this is your question, then yes, I recommend you do it.With this contract signed, you should use the first method: report full rent that your agent collected from the tenant and deduct one month of rent (that he kept) as your expense. 

This is a fluid situation and we have our plan in place for how to handle rent collection and most owners have agreed to work with tenants.

I would think collecting rent so you can pay your rental property taxes, insurance, operating costs and debt service counts as "making yourself whole", eh? 

Basically, you collect a down payment , and the buyer promises to pay you the rest in the future, once he accumulates cash or secures a loan.

I have several properties in the Chicago suburbs and I am not overly concerned with rental collections.

Meetups Collection of like-minded individuals in the Real Investment Field, who gather to network and discuss potential deals· Online Blogs and Networking (BiggerPockets, Linkedin, etc…)Same as above· Bank Asset Managers for REO properties Properties that are “Distressed” and Banks want/need to get off their booksPoint Blank you have to be creative and utilize a collection of different strategies, such as the ones mentioned above, and see what Blend works for you.

Here's where some of those costs came from:Planning & Zoning: Get a comprehensive list of all the things that they will require from a new subdivision including requirements for garbage collection, curb-and-gutter, setbacks etc.

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