We recovered and if there is another crash we will again.

Apparently they had a short sale on the previous home so they’re recovering credit in order to buy again.

I have dedicated my entire career to real estate in one form or function.. but having said that and having lived through 4 distinct now 5  distinct economic cycles or upsets.. you understand they are all different and you don't want to step over dollars to pick up pennies.. and alienating good tenants to me would be foolish just because you might have to forgo a couple grand and get it paid over time as things recover.. and if you cant afford 2 months payments on your rentals.. then that's your fault for being undercapitalized or taking on too much debt.. stuff happens.. we can all say well the tenant should be prepared.. but in reality its not the tenants investment its the investors they are the ones that need to be prepared.  

I believe the $1700 is a fair market price for this property since the for similar units in this neighborhood, the Median and Average rents are $1773 and $1825 respectively.In the first few months of ownership, I want to be discreet in my interactions with the tenants as it may result in unit vacancies during the period that my cash flow is recovering from the closing and initial repair costs.

Then lower-middle class people were trying to recover for 10 years, and were too busy working and paying their payroll taxes to fight it.  

The answer is yes if you can answer yes to any one (or more) of the following questions:1 - If you refinance just the amount owed, and your monthly pmt goes down enough where the added CF is > or = the closing costs)2 - If you refi just the amount owed, and you can roll the costs into the loan, and their is still added CF.3 - If you do a Cash Out, and the amount "cashed out" is greater than the fees, and the CF doesn't go down.4 - If you do a COR and the amount "cashed out" is greater than the fees, but the added CF recovers the added cost within the first 6 months.If the answer is "no" to all of the above questions, then my answer to your question would also be "no"...unless there's another scenario I missed.

We would not recover all of our capital.

I just don't see how a quick fix is going to be possible for this problem. https://www.technologyreview.c...Many businesses will never be able to recover from this sudden forced closure.

If there is a recession that is a time to buy ;)Hopefully our economy will recover but next few months might be rough.

Not sure if that is the best option or not, but we figured we give up a little now to help them stay in business and will recover from it later in the year.