His dad's lived there for over 20 years and knows the neighborhood and players very well and actually owns the land outright.

Squatters are criminals and not a protected class and the virus has nothing to do with anything. 

Lastly, you should review Fair Housing Laws federally and for your state and or city...you can not discriminate against people if they have kids, or because of any protected classes(ie race, age, gender, sexual orientation, etc) I own and manage 37 units for 20 years. 

Dad's credit and rental history is on the line, and he'll want to protect it.

Chase sued for ignoring the self employed loans: USA TODAY: Chase and other big banks shuffled Paycheck Protection Program small business applications, lawsuit says.https://www.usatoday.com/story...

I understand the benefit from the tenant's side- but am specifically asking about LL/PM protection.

@Tim Kaminski I thought the net tangible benefit guidelines were to protect you.

A title policy that insures your Grantor does not provide you with any protection. 

That's a small price to pay for the liability protection and the appearance of being a legitimate company.

If so, what type of business do you run and what bank did you do it through? I've spent hours reading about this, and thought it might be easier if someone just shared their success stories on getting approved.