The cost of good will drop like a stone, employment will raise to near 100% (or closest it can) and while yes, people will have less income, the cost of things will be far less making for more disposable purchasing power, making everything more affordable, and a much lower tax burden. 

I see it as an opportunity to get some serious goodwill for $100-200.

What good will pursuing any legal action do? 

I'll be the first view it and if good will make a cash offer. 

I live in Links Point (LN) Suggestions: clean and scrub everything, paint neutral cream color, donate to the Goodwill truck down by the Ziggurat building they are open daylight hours or have AMVets pick up curbside.

If you have issues with late payments you can always write a Goodwill letter asking them to remove late payments.

Don't try to be friends or buy good will by giving them things.

And then if you ever need another deal from him some day, the good will is already there.  

Don't get me wrong, you are right to doubt both his competence and goodwill.

It will cost you some bookings, but the goodwill generated is worth it.