A big project like this with a few "contingencies" could eat up much of the projected yield.

To give up potentially $1200 a year in cash flow just because a tenant adheres to their lease seems excessive and will eat quite a bit into your cash flow especially for a single family. 

Maybe your family can eat them when hungry. 

However, in general the demographic that is making that migration are also the eat local population too. 

Example they have developed a strong carryout and deliver following in addition to eat in when that part opens back up.QSR is already doing most of their business through carryout and drive thru anyways so not affected as much.Some retail operators might close but I might counter they were under capitalized and possibly living on sales week to week and month to month.

And that doesn't take into account other govt. assistance and religious charities that help people stay in housing when they experience job loss.Add in the lowered costs of not driving to work and eating out (as pretty much most of the country does for at least one and in some cases all three meals a day) and he may be better off financially than when working.Before you forgive rent, get documentation that he has applied for and been denied these benefits.

(Everyone needs to eat, right?

Keep throwing any suggestions my way as I am eating this up!!

They dont pay their rent, mortgages, move back in with parents, stop going out to eat as much and on and on. 

(no one else there)We have stopped eating out and aren't even doing take out as we're on an austerity plan until we find out who pays us rent.