I was looking at worst case around $150-160/sqft.

up until this month foreclosures were are a record low.. just ask the NPN folksstarting in April with missed payments there will be all sorts of work outs and the 90 day foreclosure halt.. then you take the 3 to 24 months to process them. and well its going to be a long time in certain markets before they hit the market.

This first turn is simply the "getting it up to speed", and it sort of sounds like you budgeted for the unit rehab anyways. 

There will ultimately have to be some sort of reconciliation with landlords in the end.

And based on Freddie's website it is people living in Freddie backed homes, so sort of unclear as to whether that means forbearance for their commercial borrowers.I spoke with my commercial lender (local bank holding deal on their balance sheet) about refi'ing my properties and he said everything with them is business as usual. 

They will cause the landlords temporary pain, accrue late fees and back rent, and eventually when America reopens, get evicted, sued, and have their credit ruined.In that third case, a minority of landlords are being forced to basically donate free housing to the very worst behaving tenants.

Sort of finding an Investor Friendly Realtor for information, you can also go to your county Realtor Organization website and they have reports that you can download.

My question, has anyone ever approached a home builder for a VTB of sorts?

Your worst case scenario here is losing a little money.

Worst than the last one?