Here is a good article explaining how the major spike in unemployment is a strong indicator of a recession: https://www.forbes.com/sites/simonmoore/2020/03/28/why-the-us-is-now-in-recession/#2373d9f6a5efThe indicators for a recession have been balling for a while, you just have to know what to look for.

lol and could take longer period of time to complete) with fixer/turnkey older homes: (which you probably know already) con: - had to worry about HVAC, water heater unit being old and not replaced yet - if it was somewhat fixed already - dealing with potential short cut work from previous contractors - find any unforeseen issues that you'd have to have trustworthy people in place to find out for you (with your due diligence in place)- could have issues after purchase when you try to do your rehab Pro: obviously even with those issues above, there "could" be more ROI in place when its done.New construction: con: - not much addition to do to add more value to your home - Hoa fees could be higher - because newer neighbors use CPM (community property manager) in the beginning - Need to know if the neighbor has a cap of rental properties before purchase, and need to purchase quickPro: - like you mentioned, less capex and maintenance - potentially find a tenant faster - most of the things in the house has warranty up to 5 years Also, if you do end up buying new build, look around the area to see if there are more new constructions going up, it could indicate that population in the area is growing and the area is in demand. 

Or you could let them pay what they can, break the lease early with a minimal penalty and get a new tenant in the door who's not affected by this crisis.

All the indicators point to an upcoming recession (GDP, unemployment <4%, Buffet indictor/market cap to GDP).

Are you as obsessed with it as the majority of my books, podcasts and articles seem to indicate you should be?

I think the risk is minimal as long as you play by the lender's rules and prepare to pay the accrued balances if needed.

They also prefer to see "management or landlord" experience, indicating you'll know how to manage a commercial property. 

@Gerald Barron  For the next month, I'd put it in a savings account earning minimal interest. 

Federal loan data indicate there was approximately $1.5 trillion in commercial real estate debt on the books of U.S. banks at the close of 2019, with Wells Fargo & Co.

I think I need to go back to the seller and ask for more help here, and I want to minimize cost till I have more certainty.