Wall Street is on pause, ie: most likely re-allocating. 

The nature of a grant is you don’t have to pay it back, otherwise it would be a loanThe reason I know that only 1 million business will get $10,000 is because the CARES act specifically allocated $10 billion dollars to this grant. $10 billion divided by $10,000 = 1 million businessesHopefully that helps

With an additional six months invested as 60/40 stock/ bond allocation.6 months of my realtor business expenses as cash in the bank.

The reason I say that is because then most of the Capex projects are done and once you get your reserves built up initially you can back off slightly on the cap ex allocation because well most of the systems in the house are new and good for 10-20 years in most cases.  2.

I agree that diversification is key to any good financial plan, and you need to think in a broad sense across all of your portfolio (taxable and tax-exempt) when making allocation decisions.That said, there are a lot of alternatives to the stock market that you can look at besides direct ownership in rental properties which you are already doing. 

Analyst at banks still look at ability to repay if loan is not forgiven or business owner doesn't allocate as they say they would.  

It turned out the Yale's endowment was run by around 20 people who only made asset allocation decision: this percent to stocks, that percent to bonds ect.

To take a step further, you can also add a 3rd sub-account for the income/loss allocation to capture the tax basis balance as Lance mentioned.

I ended up allocating 120k to the 1031 side of this purchase.

Keep my contributions or allocate more to liquid cash for real estate investment?