America offers people the ability to pull themselves up by the bootstraps if they want to.What you guys have been through reminds me of JP Dejoria's story of the Eagle and Oyster at TEDxLA a few years back (it's on YouTube).You guys have overcome a lot to get where you are -- Good Job -- and keep on going!!!

Therefore, even if the seller has the ability toforeclose in the event of a default by the buyer, the asset might not be worth as much as it wasat the time of the original sale, and the buyer may have even contributed to its decline in value.

The ability to use the stimulus bill to bolster cash reserves is enticing, but I personally think it needs to be a well defined process in writing to make sense for me. 

If we assume rent is deferred for 90 days due to current circumstances, that would mean regular monthly payments would be due after those 90 days as well as tenants needing to work with landlords to determine how the 3 deferred payments will be made over 12 months.Not in your market and just speculating based on your post.

The Landlord reserves the right to regularly inspect the air filter to determine whether the air filter needs replacement or cleaning for periods or times that are less than six months.

It's devastating and it will effect our ability to get the $120,000 down.Being that I put this under contract when the economy was great, and now its quite obvious that commercial real estate values will be plummeting, is it reasonable to renegotiate this deal?

The potential upside with Capex is your house could be more valuable with the ability to increase rents, along with some tax benefits of depreciation.

I opt out of forbearance option due to affects on my ability to get another loan later and potentially impact my credit in a negative way.

Other sourcesI see the same message in many other law firm advisories (here, and here, for example) and in an FAQ put out this week by the FDIC.Again, if you can pay, it might be smart to pay to avoid any risk of a hit to your future credit or lending ability.

Tenants who have been approved for unemployment are automatically authorized Section 8 vouchers with online verificationAt the end of the year landlords will receive a 1099-MISC for each property for the amount of rent received which is totally subject to depreciation.At the end of the year tenants will receive a 1099-MISC for the amount of rent paid on their behalf and subject to their tax bracket.This can all be set up online, is totally verifiable, and efficient.When you no longer qualify for unemployment, you lose your section 8 and landlords only qualify for rentals that have unemployed tenants and not those with the ability to pay.Again this can all be done online and is simple for both the Landlord and Tenant to understand.It is also the correct way to do it by the Internal Revenue Code.This SBA Loan program is a complete sham and is being run by the BANKS under guise of the DEPT OF TREASURY.I would get a lawyer opinion before I would do this, because not only are you going to go bankrupt you are going to wind up dealing with the bank secrecy act and treasury regulations in addition to the IRC.WARNING LANDLORDS YOU ARE PLAYING WITH FIRE IF YOU GO THIS ROUTE.