Instead of traditional cash deposit that we collect prior to move in we have an insurance company create a policy in the amount we choose.

*Any late fees collected stays w agent.

They don't have money but you still track all the repairs, take pictures, etc and turn them over to a local collections attorney. 

It appears they are loosening the regulations for unemployment and allowing temporarily laid off people and 1099/freelancers to collect unemployment and also giving an extra $600/week onto the u employment checks.

That $50k stays in escrow and if summer season is $0 we collect that $50k, they are out $50k, I'm out $50k.  4. 

If you're in jurisdiction, you can send them to collections but get it rented out ASAP obviously.If they owe you money, keep the deposit OR offer them half back if they can let you a tenant in 2 weeks.Couple of ways to leave on the right foot and salvage the rent.Reach out to me anytime

YES, it may be possible to collect rent payments and not make the mortgage payment if you have a forbearance.

He said he is collecting unemployment, didn't mention anything about not being able to pay rent.

Two options:1 - Set up an escrow account that collects and pays the original mortgage for the seller2 - Property has no mortgage on it. 

(And last month's rent if you can collect that where you are).