Furthermore, if the tenant had the means to pay the Landlord AND that could be proven in Court, the Landlord should be able to win a judgement on future income after the Pandemic.Only IF the tenant was both affected by Covid-19 AND they did not have enough Savings OR enough UE / Federal Boost would they be allowed to stay until the Landlord get's paid.At the same time, the Landlord should have been able to take the Covid-19 Hardship Waiver from the Tenant and give it to their Municipality so that they stop paying Property Taxes and Building Utilities as well as the Bank's Mortgage.The Gov'mit should have allowed the Landlord to put a lien on the Assets of the tenants who owe rent right away until the Gov'mit is able to pay the back and future rent.This is an extremely one sided help for the Renter and disaster for the Landlord.The problem is always that these laws could have been worked out in such great ways for the Majority, both Tenants and Landlords, if only the Politicians would just think several steps ahead instead of just ONE.This is EXACTLY why, when I do buy properties in Liberal NYC, the epicenter of Liberalism, as long as my Portfolio of Properties can be steered away from the mess of the unintended consequences of bad politics.I also now have the added advantage of having NONE of my properties affected except for minor leaks during the Hurricane IDA historic flooding.Sometime after the Pandemic, I may convert all my Multi-Family properties to Condos and sell it all as it will be the highest appreciation I will see at any point of time in the 24 years I have been buying NYC properties when considering that I have easily survived the Pandemic and Hurricane IDA.What we need to do is to try to buy investments that can withstand the Long Arm of the Laws that are passed by Liberals who just make it worse for everyone, including their constituents, the Renters, who will suffer from much higher rents in the future.

Those that survived has massive liquidity.

@Ari Hadar He needs savings to survive a longer Repair process than he expects and any problems with his contractors.

Very unlikely such a proposal would actually come to pass but if it did real estate investing and investors will survive and continue to do very well if they are smart.  

But I bet the majority of investors on here can survive off less than 200k/year in passive income.

At some point I’d love to make the jump to $1M+ MFH but I have no desire to work outside of class A rentals while I’m still surviving off my W2.The gist that I’m getting from this discussion is that nobody believes anyone is quoting a true cap rate anyway!

I had quite a few gut check moments along the way that I only survived BECAUSE my risk only truly affected me.

I’d have to stop going to fancy restaurants like chic fila and go back to the dollar menu at Wendy’s and McDonald’s  but I think I’d survive. 

Most people are going to get burned doing the things you described because they won't have enough reserves and financial flexibility to survive if things turn.

It's great when you do not NEED the deal to survive but can decide how many deals you want to do.