I dont expect a significant reduction (maybe 10-20% in C areas and flat in A/B areas) in regards to real estate prices largely due to mortgage lenders allowing payments to be deferred.

This seems like a bit of a BS thing and MY attorney is also telling me that "sure its difficult to work from home so it is OK to delay".

Good cities, they are A/B areas

Person A + B want to partner on an investment property.

I would say its a victory to live for $400/mo net if you are in a B class or better area of Chicago. 

I would grade the neighborhood as a B- or C+.

I'm looking at a bank owned property in a SFH in a B+ neighborhood that is just a cosmetic rehab 15-20K. 

If you don't have the Capital for a B class and you want to jump in, you may have to jump into a higher risk environment. 

So I was going to spend ~$50k on the renovation and I could spend $5k more to double the size of the kitchen & put in stainless steel appliances and it would be the best property for the money in the neighborhood - but it wouldn't get me more rent (plus a pool is a liability nightmare in a B- neighborhood)Good luck - those Podcasts listed earlier are awesome

I'll do an A/B test with both, see what kind of responses I get