If it is all about "you", you'll never do a deal.You have to have money to give the seller for their equity, money to pay for their closing costs, money for the title report, money for escrow, money for your closing costs, money to make at least 3 months of the payments (safety precaution) money to pay for the electrical and water while you are looking for the right tenant buyer.

It basically just says we're taking every precaution possible to protect sellers and tenants and we're still actively buying.

Buyers and sellers had to learn new ways of doing business and understand that the safety precautions have shifted too.  

The bank will hold these funds as a precaution.

What precautions should I take when looking for a tenant?

Any advice on what legal steps or precautions should we take when we're working with a partner?

We are simply taking the precautions we can such as locking the building down and having no valuables present from the exterior windows, and working with our tenants.

I have done it once myself many years ago and it was not too hard, but I had it tested.When I hire someone to do it (which is every time in the last ~20 years), I let them worry about testing it and taking the "correct" precautions and disposing of the waste appropriately.With what my popcorn removal contractor charges for popcorn removal and texture, I would hire it out even if money was in shorter supply for me. 

Happy to meet up with folks and talk real estate (while observing appropriate COVID precautions).

I've heard that I can't operate the pool, that I need a lifeguard, that I need a handicap access, and that it's completely exempt because it is in a residential property.In the end I chose to go with an attorney's advice, which was consistent with the manager who had managed it for the 40 years prior:  Post Notice on safe use and precautions, keep the area clean and conducive to safe usage as much as possible, and educate tenants on their responsibility to ensure their safety, as well as their guests.I'm not sure if this would change from state to state, or from LTR to STR, but I'm sure we'll experience a wide array of guidance on it :)