That said, there is still tons of great business and deals going on with no collapse potential at all, BUT those who over-leverage are in risk of having to pay the price for getting fast, loose and sloppy. 

Though I question how big fallout will be as the government is doing what they can to keep that from collapsing quickly.My question in all of this is how will banks fair as we move through this? 

So far in my market the sellers initially changed their pricing to reflect the unknowability of the COVID crisis, but now many are reading the increasing rally of the equities market and the "things-haven't-collapsed-yet" observations around then and saying "oh, maybe this should be trading at a 5.5% CAP even though it has 20 years of deferred maintenance.If they adjust their expectations to the next 18-months, it will be a key buying season. 

Collapsed lines and radon gases highlight some of the more significant problems.Knob and Tube WiringI’ve heard several electricians state that “theoretically” knob and tube wiring doesn’t pose any fire risk.

Commercial lenders are usually terrible for multiple reasons and COVID-19 has put the highly levered ones on the brink of collapse (RCN Capital). 

I generally budget $100/ft for full guts and if there's other work like digging down basement, underpinning, rebuilding exterior walls that are compromised/collapsed it can go up a bit from there.

This can’t go on forever, and with endless supply of money printing-when inflation hits or the dollar collapses you’ll still have a real tangible asset to convert into crypto or new dollars or gold or whatever means governments use for value transfer.If you’re not saving your stimulus checks to keep as reserves for your primary and/or rentals I hope it’s for unsecured loans like credit card debts.I don’t want to sound judgmental, because I’m not trying to be, but I am in survival mode right now-with the goal to have all my properties after the pandemic that I had when it started.

If you do not, you will be shocked at the amount of money you can spend on clogged pipes, leaks that damage dry wall and collapse ceilings, low water pressure from rusted galvanized lines, etc...  

There is not going to be any equity there and you're going to end up in a negative equity position if you purchase right now and your cash flow is going to go away as the market collapses.

Then get ready to go into the deals that are going to make you a lot of money based on the future market collapse.