Whether a tenant wants to rent from you on a short term basis or an indefinite amount of time, make your tenant sign a lease. 

Would you work where you do for free for an indefinite amount of time because your boss says he wants to get a big contract for a lot of money?

The dox on the condo do have a rental limit for the community, but we have been grandfathered into the previous documents stating that we can rent indefinitely, thankfully.  

I have reserves such that I could run for probably a year with no rent revenue at all (but it would hurt), a decade with 30% revenue and indefinitely at 50% (GPR) revenue which is a little over break even for us.

Here’s what I’m thinking in terms of numbers as an example.Private $ Loan Amount: $50,000Rate: 10%Deferred Payment: 3 months (I don’t have to pay out a disbursement for 3 months to allow for any reno and renting)Year 1 Monthly Disbursement: $556 ($50,000 x 10% / 9 payments)Year 2 Monthly Disbursement: $417 ($50,000 x 10% / 12 payments)Balloon payment of original loan amount at any time.So here are my specific questions: Do I simply pay them the interest indefinitely until I sell or otherwise have the capital to pay them back their original $50,000 loan (balloon payment)?

Campaigns definitely slowed down through the winter, but that isn’t uncommon, depending on the market you are in. Definitely

keep in mind some of these rent assistance programs come with significant conditions;   Some of the assistance programs I've seen in WA require forgiveness of past AND FUTURE unpaid rent for the duration of the pandemic if any rent assistance is received,   as well as required renewal of the tenancy indefinitely regardless of payment balance from COVID period.   

On rates, I guess I'm wondering if the Fed has any more ammunition in their arsenal to keep rates down indefinitely.

They love to perch on the wall and chill there  indefinitely until I smash them into oblivion. 

The best advice we got back in the 1990's was to just get in and that's advice I would give assuming you intend to live in the area indefinitely.