Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Specific market views are welcome, but generally speaking I wish to have some insight from the overall market.

If you wish to back out of the deal due to an inspection coming back with results you don't agree with, you may do so and keep your good faith deposit.

You can choose to not pull out all of your cash if you do not wish as the more you leave in the lower your loan amount will be and the more equity you will have in the property.

These SBA loans supposedly DO apply to sole proprietorships (and other business structures, like LLCs, etc.)So the question is: As rental property owners, even if we don't have employees, are we able to apply for one of these SBA loans for our rental property business due to the uncertainty of economic conditions caused by COVID-19 (namely, our tenants' ability to pay rent in the coming months) or is this just wishful thinking on my part?

I don't wish hardship on anyone, but I won't shy away from the opportunity, either. 

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I have done 2 out of state Single Family Homes and his advice is spot on and I wish I had read that book before diving in...  

Best wishes on future success

I wish the best for you going forward in 2020!