One concern is that the property is in a not-so-great, industrial area (some newly constructed homes on the street, but some foreclosures, including the neighboring property as well), I'd also be interested in hearing other's stories of their first investment/experience w/ duplexes. 

The Smokies is such a popular destination (20M people annually) that we attract a lot of great people, but also some not-do-great people.

The best thing to do when getting started is study your market and get to know it intimately down to the block, street and specific properties you are targeting.

With that being said, it looks like there's certainly potential that the combo of Corona and Wall Street struggles may be a bit more than the short term market will be able to bear... 

The answer of course is NOooThat letter notifies our tenants that if they lose their job they will need to document their job loss if they are not able to pay full rent that they'll need to call and work out a payment plan and it notifies  tenants that still have jobs that they will need to continue to pay their rent on-time.I would hope that most **decent** people care their neighbors who are out of work enough to be glad that we are working with affected tenants so that they won't be kicked out into the street as soon as possible when they lost their jobs as a result of a pandemic.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $255,000

Cash invested: $27,000

Three Unit MultiFamily we are house hacking.

What made you interest...

Small world- I lived on 25th Street in Bayonne, right by the Shoprite. 

It will take much longer for these prices to filter into the "real" (SFR rentals etc.) markets, but there's panic on Wall Street.  

Also they may be sympathetic to the tenant and not allow you to throw them on the street with no where to go.We as landlords are not in a good position.If you do get a court date tell the judge about your bills pilling up and how you can't pay the mortgage and that this may cause irrevocable harm when you get foreclosed on or owe extra fees and penalties at best.

Here is the breakdown 2 units combined rents 1350Price 70K and 5K back at closing to replace single pane windows.Both tenants have stable jobs that appear to not be affected by COVID 19 as of yet (1 works at BP gas station husband works at Ford dealership other works for maintenance crew for an apartment complex down the street) I am getting a Commercial loan and was curious on should I wait and push back close on this property given the uncertainty with COVID 19 as well as perhaps getting an even lower rate?