I have a friend doing that in Gatlinburg and he is creating massive cash flow.  

Also a MASSIVE garage that we hope to turn into a 3rd unit.Front unit rents for $17k/year GROSS, but is in need of a face lift.

I've been doing the BRRRR strategy though yet to refinance, bought 2 in last year and will have 0 money left in after refi (massive reno projects), so it all depends on your capability, and how much grind you want to put in, in my opinion...The more work, the higher the return should be. 

Will we see a massive drop (crash) in prices?

I live in a small resort town with a massive income disparity.

I'm a huge advocate of getting a decent first deal fast, rather than sitting around waiting for a "perfect" financial deal with massive juicy returns.

Just reading  about a post in MN that no tenants could be evicted due to Governor's order and self help eviction could lead to massive fines and jail time for the landlord.

Basically your friend can get a guaranteed return by lending you the money for purchase and rehab at a fixed percentage (say somewhere between 6-10% - I’d be willing to pay a higher rate to a friend that makes my life easier in not having to fill out massive amounts of paperwork, hiring appraiser, having credit pulled, etc).

This is huge for you as a new person in the space to do it repeatedly and learn from someone that has massive experience. 

I'm definitely biased purchasing "forever homes" because of their massive financial burdens and poor performance relative to investment real estate, but if your goal is not to move, why no sign a long lease?