In addition, many hedge fund and big players have stopped buying.

The Property Management firm is the key player and you should know that being Property Management is a much bigger deal down under then it is here in the states.  

Industrial the big players I see focus on BOLT DOWN businesses.

However, I still have players in the game and am still on track to close some multifamily and other commercial bridge deals.

@Suzanne Player how is it like a blank check?

I think as you stated especially for larger players talks with your lenders up front could be very prudent..

I have been marketing to these potential sellers but I am struggling do identify safe exit strategies within this dominant vacation-rental area simply because I lack the experience as an investor within the area.

I told a girl annoyed that she had just booked a great gig, she's a folksy guitar player / singer,  to sign up for Patreon, do eVites and then have people pay to watch her perform on video and chat with her fans - guess what - her list responded positively on her Insta and now she can do something, whole venues need to think about this. 

@Josh JimenezI am not familiar with those investors however; the larger players in the real estate investing (syndication) business usually have several different income streams other than just the investments they usually talk about.

Definitely look at major employers in the area... if it's dominated by industries affected most by COVID, then it may take a little longer to bounce back.