Has there been any discussion here yet about governments potentially ceasing ability to collect rent for a certain time frame during this Covid pandemic.

I think the next couple weeks will be telling as far as our borrowers and their willingness and/or ability to keep paying. 

Can you trust, and I mean REALLY trust, their estimates and ability to deliver?

Notable driving forces on that are ability to repay due to unemployment and other direct affects of the pandemic and extension risk. 

Am I missing an important element in my analysis?

For a value-add play it is still important, but typically not going to be breaking the budget quite as much, especially if you have the ability to raise rents reasonably significantly.Also, out of curiosity, does that NOI have built in on going reserves?

You need this itemized list anyways to send back with their security deposit, or lack there of.The list and any remaining security deposit, or a bill with payment instructions gets sent to them via certified mail, so you have a record of them signing for it. 

Case law has determined that a property owner may have an ability to assess the total value of a property but doesn't hold any special qualifications to determine the split between land and building.

It appears some people with the ability to drive to the location are taking advantage of discounted rates.

By providing now it may limit your ability later on.