Limit your exit horizons so you're not exposed to market conditions 6 months out. 

Due to the state of the economy with the Coronavirus pandemic, what do you see on the horizon that would be lucrative to get involved in, be it real estate, a business start up, creating an online business, investing in stocks, general investing, etc?

@Mark Reed Kitchens & bathrooms, that is the priority and $$$$ factor in most markets, has been for a long time and I see no change to this on the horizon. 

Good economic growth on the horizon with expansions of the steel mill and economic development surrounding the riverwalk.

Be patient; remember that no one can be evicted or foreclosed right now and balloon payments of forbearance programs are still on the horizon.

One of those ten-year horizon style projects.

A few weeks or a few months won't have a substantial impact on your investment one way or the other when viewed through an appropriate length time horizon.

Your time horizon may be different.

Should I look to use my FHA status to buy an SFH at a 1 year horizon or is it worth it to extend out to a 2 year horizon and use the FHA status on a MFH?

Be patient, opportunity is on the horizon.