I’m in negotiations on a duplex here on Long Island that I can purchase for $425,000 and collect $4,500 gross per month with minimal Capex.

I bought a flip property needing light cosmetic work (new flooring, cabinets, counters, appliances, minimal drywall and electric work, smoke smell removing and paint.

I can rerent the house with minimal work and cashflow like a banshee on it.

Yes, some of my late stage NPNs have been delayed by 1-2 months but I see that changing once we weather the worst of this in the next month or two.

There is no formula for perfect investing - just doing as much due diligence as possible to minimize unnecessary risk.

The hard money rates can eat up a tremendous amount of the profits if this causes a 2-3 month delay in closings.

I am now looking at a few other options too, including delaying the purchase given the current circumstances.

I think this could still be a good delayed spring market once this pandemic is past us. 

While it's impossible to offer any guarantees, and any number of things could delay your closing,  if you are that deep into a refi, your lender would likely have no incentive to cancel it in a falling interest rate environment. 

So basically the consensus is to:A) Handle on a case by case basis if / when specific tenants come to youB) Amortize the delayed rent over the life of their lease or some similar payment plan with a statement that we're first in lineC) Talk to lenders early.