Then they will deduct a market based vacancy and credit loss rate to formulate effective gross income.

You MUST read the "insurance section" of your condo's governing documents to find out exactly who's responsible for what when property damage occurs.  99.9% of the time, the policy that insures the damaged item is the one that pays at the time of the loss. 

I imagine many just had to eat the loss in some cases.

I understand you want to help your tenant out, but is that worth thousands of dollars in loss opportunity costs?

That’s the logic of a corporate / LLC structure... to divide the income / loss of the company.  

The bill would define “covered tenant” as a tenant who is unable to satisfy rent accrued during the effective time period due to a loss of income or increased expenses resulting from COVID-19 and who provides a written statement to that effect to their landlord, as specified.

You have got to have a criteria for the kind of properties you want to purchase and then stick with your criteria.Also, how I would calculate my numbers a little different:Gross Rent = 900- 50% = (450)NOI = 450- HOA = (220)- P&I = (262.61)Net Income/(Loss) = (32.61)Keep in mind 50% is just a rule of thumb to screen the properties that aren't worth wasting your time on.

I owned the property for 2 years, was never able to get any other tenant, and finally sold at a substantial loss to an end user.Now granted I was dealing in "B" property in secondary locations, but since I was trying for double digit annual returns (not including any property appreciation, just cash flow), "A" locations were out of the question.

We also had some loss-carry forwards from the time period before RE Professional tax treatment.My point is that many people that come here don't plan on living off the CF.

I know there is no appreciation and tenants could be more challenging, but since I will own it cash I can screen for months and not have nearly the losses as I would with a mortgaged home.