This sounds like a better alternative than no rent.

Instead of letting the market correct itself naturally with loses, the government does the opposite by injecting cash into the sector and removing all the bad debt from the situation. 

I know there are a few options that replace collecting a traditional security deposit. Is anyone familiar with these and would you recommend them? I currently charge deposits that are $50 less than the rent if it rent...

What's the nature of the investment (commercial, SFR, Mobil home).

I’m looking to do a cash out refi on my current triplex for a down payment on another triplex. I have run all my numbers on the new triplex and I can get a 17.4% ROI and it will cash flow $663 per month. Great numbers...

I've always felt a predatory nature around the comment of "blood in the streets"... but I get it the sentiment. 

It might increase your rental pool, but you would need to really vet your tenants.4) have an alternative exit strategy...sell, house hack, rent by the room, etc.Thanks for posting, I am trying to close on a 3 unit as well, and have many of the same concerns.Shawn 

I would call the state DOR and ask if that's correct given the nature of your company and explain. 

Given the debt free nature of those properties you've got a lot of possibilities You may want to test the market to see about a value add project in the low 1 million range. 

This potentially muddies the water depending on the nature of the LLC.