The potential upside with Capex is your house could be more valuable with the ability to increase rents, along with some tax benefits of depreciation.

I opt out of forbearance option due to affects on my ability to get another loan later and potentially impact my credit in a negative way.

Other sourcesI see the same message in many other law firm advisories (here, and here, for example) and in an FAQ put out this week by the FDIC.Again, if you can pay, it might be smart to pay to avoid any risk of a hit to your future credit or lending ability.

Tenants who have been approved for unemployment are automatically authorized Section 8 vouchers with online verificationAt the end of the year landlords will receive a 1099-MISC for each property for the amount of rent received which is totally subject to depreciation.At the end of the year tenants will receive a 1099-MISC for the amount of rent paid on their behalf and subject to their tax bracket.This can all be set up online, is totally verifiable, and efficient.When you no longer qualify for unemployment, you lose your section 8 and landlords only qualify for rentals that have unemployed tenants and not those with the ability to pay.Again this can all be done online and is simple for both the Landlord and Tenant to understand.It is also the correct way to do it by the Internal Revenue Code.This SBA Loan program is a complete sham and is being run by the BANKS under guise of the DEPT OF TREASURY.I would get a lawyer opinion before I would do this, because not only are you going to go bankrupt you are going to wind up dealing with the bank secrecy act and treasury regulations in addition to the IRC.WARNING LANDLORDS YOU ARE PLAYING WITH FIRE IF YOU GO THIS ROUTE. 

It lasts long enough we see it begin to impact people’s ability to pay mortgages, inventory could increase, prices could drop. 

This post and your feedback has forced me to think about what my goal is, and I think ultimately what I am looking to do is have liquid cash ready, so that if the right opportunity does come along in this volatile market, I will have the ability to jump on it.

Don't look at which market is higher, but which market has the consistent ability to make you money.

What would be the implications of me being on a second mortgage and my ability to qualify for other mortgage loans for buying out of state property? 

Each and every problem discussed in this thread, save for the complaints of poor customer service from individual appraisers at the personal level, stem from this dynamic, where mortgage appraisals are but one piece of a larger formula we all know and love as the ability to obtain funds using credit or OPM (other peoples money, as is commonly phrased by many investors here on BP).USPAP was taken over by the Appraisal Standards Board or ASB since the 1980's, under the oversight of the Appraisal Subcommittee, the entity granted the power of over-sight by the United States Congress.

I told her I’ll work with her to the best of my ability but my husband and I have a mortgage to pay too.