If we felt we could keep pets off our properties, we would but just found it easier to allow them with strings than to try to prohibit them. 

IRS rules prohibit for any such person to provide any services to the plan.

Not sure if you all saw this, but it looks like it is now prohibited to evict a tenant in NH during the State of Emergency:https://d3dkdvqff0zqx.cloudfront.net/groups/nhrealtors/attachments/emergency-order-4.pdfI think @Laura Cardenas has the right idea in reaching out to tenants and starting a discussion with them early.

It still could be a smart way to borrow, even without a tax deduction, provided that it does not violate the lending rules: check whether you may be prohibited from using borrowed money for a down payment.

Paying down a loan is prohibited

Continued4) Check for co-signors- I have one young tenant that has a mother who makes over 250k year who co-signed.5) In my state (Washington) Pay or Vacate notices are prohibited (until 4/17) however you should provide each delinquent tenant a statement of their account to help them document their needs to relief agencies.6) All out of work tenants will get something, unemployment, mail money etc. they should make a contribution to rent even if its not 100%. 

The first issue is that your asset might not be a good cash-flowing asset, which would obviously prohibit from being cashflow positive.

@Russell Brazil the NC standard OTP expressly prohibits this.

Do you have a provision in your lease either prohibiting cats or charging a pet rent or fees?

@Barry Pekin The only instance I know of where this practice makes sense is when you are wholesaling an REO or a short sale and the deed restriction imposed by the bank prohibits wholesaling or re-selling the property for a predetermined period of time.