NARPM release a notional PM survey on April 16th, 2020.It was found that most renters were current with their April rent payments, in spite of the economic downturn due to COVID-19.

I personally wouldn't quit a stable job with the intention of living off rental income or income from a new business in the current economic climate. 

Then COVID-19 hits - and BOOM, markets tumble and our economic future looks a little (understatement) more uncertain.  6 months ago it's understandable to think that, with the market at its peak, diversifying in real estate was the prudent move - strike both sides while it's hot!  

Economic residency and citizenship in any country is pretty high level stuff, you need to spend a lot of money and do a lot of paperwork.

Times are certainly changing with the economic reality we are facing.

It sounds like you have goo economics in your market, so why not go for it.

@Shalin PatelPartnership's are great in that you can be very flexible with allocation of income between the partners/members.However, there has to be substantial economic effect for the partnership allocation to be valid. 

Tenant called owner last week and pretty much demanded rent reduction (more or less ~ "we can't pay all of it, we won't pay back the difference, we know you need whatever we can pay you, you won't find other tenants in this economic environment"). 

The best of both worlds is to have leverage but proper reserves to cover in “crisis”.

Additionally, regardless of an economic downturn, I always recommend assuming conservative rents.