So ultimately, there were two first mortgages on the property and only one was wiped out in foreclosure.That one was a pain and delayed closing about a month. 

doesn't have buyers lining up at his doorstep, so a bit of dancing around and delaying until he felt uncomfortable enough to budge should get you to where you want. 

Lenders need to be more flexible (late payments, delay payments, restructure terms, etc.), then landlords would be able to assist with this a bit easier.

Minimize your out of pocket, and maximize your cash flow, but not by making a bigger DP. 

Have your agent propose this as a win-win for both of you - and use this delay in closing as a time to find a tenant that is as great or better than the ones departing.

The project was originally scheduled for completion early January, but due to builder delays is now in the final stages (mid-April).

Currently I am working towards improving my personal finance position in preparation for buying my first property i.e. paying off debt and minimizing monthly expenses and lifestyle spending.

What you have to remember is if your lake home is in a rural area, the fear of COVID-19 is minimal because they aren’t having the same problems as large cities are.

Chances are the close and refinance will be postponed thus going past my rate locks (one is a 30 day and the other a 45).Are lenders honoring these locks because of delays? 

I expect minimal defaults as tenants are more likely to have reserves and other resources.  20% of my properties, modest leverage, overall safe.Low income housing, secured by section 8 vouchers.