Good news is this is a temporary situation.

In an effort to provide some information for long term buy and hold investors to be more prepared, please see below:Happening Nationally:Tenants have refused to leave at the end of their lease siting uncertainty and high risk of virus.Tenants (apparently even with strong renter history) are stating the virus has impacted their income and are not able to pay rent, are asking for lenience.Vendors are less responsive to non-emergent maintenance due to fear of employees becoming sick.Property Managers have chosen to be less responsive to non-urgent maintenance requests from tenants to keep their team safe, similar to vendors.Showings have decreased or have been cancelled due to the fear of being in public buildings or other people’s homes, which might impact vacancy if this is longer term.Occupied unit showings have ceased for the protection of the tenant in place, the showing agent, and the prospective tenant.Some management offices are closing and requesting rent be paid in a different manner than visiting the office.Occupied unit inspections have been paused, unless deemed emergent.Be Prepared:Think through how you will handle some of these situations in advance and write our a process for it.Handle them consistently and do not favor one tenant over another.Be proactive and prepared so you can act unemotionally and with fairness for all.Be a Leader:Now is the time to show your team (vendors and tenants) that you value their health as much as you do your own.

Your mortgage didn't decrease.

As an SBA professional I wanted to make you all aware that the SBA has a long standing policy to allow for loan deferments to handle temporary cash flow disruptions, which the Covid19 event qualifies as.This pertains to all borrowers who have an existing SBA 7a, 504 or Microloan.Loan deferment can be done unilaterally by your lender.

I think you will find that our current circumstances has created a very opportunistic time to obtain a better return on your investment by purchasing single family rentals.Overall effect of Coronavirus:Vacation & short term rentals have seen a decrease in demand as fewer people are traveling.Interest rates have hit all time record lows allowing for the best financing terms to lock in 30yr fixed rates that we have Never seen before! 

Hi Lena,There are rent assistance programs offered by government and non profit organizations.For example, for DuPage county IL, I copied this from one website I found just by googling it:Emergency Rent & Mortgage Assistance People's Resource Center (PRC) offers emergency rent and mortgage assistance to qualifying clients who are unable to pay rent or make a security deposit due to a temporary financial crisis.

Any other big purchases in the near future as refinancing could cause a temporary drop in your credit score. 

I'm relatively new to the real estate investment market and am curious about a situation.I have been told recently that there might be a situation wherein the county or state can pass a law (could be temporary) saying tenants don't have to pay rent and still can live in the house in exceptional situations, may like the current COVED19 outbreak.

Yes we would still be cash flow positive with a 10% decrease in rent 3.

This is temporary.