Need help with finding a general consensus

[Drew Mac]

Wondering what the general consensus for this question is. I have also been researching case studies, but as we all know every situation is different. 

My wife and I currently have one property that is paid off- it is worth approximately 600k and has a cap rate of 8%. We have a Line of Credit on that property which we can access up to 80% at a rate of 5.25%. We currently are building another property, purchased for $110k, building 2k sq/ft onto it for $168k, this 168k is coming out of the Line of Credit, and should be able to refi it to 350k based on comps around the property, then again have a cap rate on it of 8-9%. If all goes well we will not have to pay anything out of pocket for the new build. 

This being said, a great rental property a 3/2 in a nice area came up for sale for 120k, it will cash flow and leave $200 in my pocket each month, after using the Line of Credit to pay the 20% down payment.  However, in the age of Coronavirus as well as the upcoming election, should my wife and I jump at the new opportunity or should we wait for the dust to settle? 

If we do not wait and the world comes crashing down with the election (if we do not get the appraisal value we need on the new build), and with the rent moratorium we could put ourselves in an over leveraged position, however it is a great rental that cash flows in an appreciating market. 

Thoughts? 

Thanks!