Allows you to also amend prior tax returns to get this benefit.

Carryback is related to NOL'sRE pro allows passive lossesDifferent types of lossesBut if you qualify as RE pro in a year it does not Free up your prior losses at all, and you can't amend to utilize them beacuse you didn't qualify in those earlier years. 

Furthermore, this proposal disproportionately puts the burden on property owners for other expenses that are still due (state property taxes, maintenance, utilities, etc)I don't pretend to be a constitutional scholar, but the 5th amendment appears to bar this exact proposal: "nor shall private property be taken for public use, without just compensation."

Problem is I signed an amendment that says" buyer and seller agree to extend closing date if necessary" no other specifics included.My original approval was based on rental income only,(from other properties) no job. 

Fernon Meeks, did you sign the CARES ACT amendment with Loftium? 

Also, there are specific Covid-19 Amendments that we have been attaching to Purchase and Sales agreements to protect our buyers. 

@Eric Lefebvre an I idea on selling a property in a flood zone is to either offer to pay the premium for two years so you take that off the table or you can get an elevation certificate and see if you can get what is called a LOMA (Letter of Map Amendment) that will remove the property from the requirement (by lenders) to purchase flood insurance. 

It is the ability to take a taxed distribution from the IRA/401(k) with a waiver for the additional 10% penalty that normally applies to an early distribution prior to age 59 1/2.Due to the need to pay taxes and the cost of needing to amend prior year returns to get those taxes back, this is not likely "easy access short term money for investing". 

If they can’t do that then amend to subtract losses from security deposit if that’s legal in your state.

@Craig Lessler, my understanding is your employer sponsoring the plan has to amend their plan document to adopt these provisions and then, and only then, might you be able to qualify for a coronavirus-related distribution (CRD).