If the vacancy rate is currently 5%, should I allocate 20% for a Great Recession like event.  

For this reason, it wouldnt make sense to rack up all the fees for title, escrow, lender fees, etc to do an investment cashout when you likely could get a personal loan at a similar interest rate, but only pay 300-500$ in document fees vice paying the 5-8K fees you'd likely rack up between the lender and title company with the refi. 

I’m trying to value the property and believe its calculated by NOI/cap rate.

Best bet is to contact your trusted lender or other financial institutions to compare offers to find the best interest rates and terms that suit your investment strategy.  

So we will go from a record low unemployment rate of 3.8% to a probably never seen before high.We always say housing is a basic need and therefore we will always have a viable business model.

Because right now I dont think it is good idea to refinance since I get 3.0% rate for my primary home.

Probably not the best time to invest in hotel assets until economy recovers and there is some relief in rates.

On Thursday we received encouraging inflation data making rate cuts almost certain by September or November. 

DSCR for these sort of loans right now is 25% down, 30-year amortization, with a rate around 7%, depending on the lender and deal.

The losses were suspended in the past due to W2 income and they are now self-employed, meaning their income tax rate is likely to be lower, if that makes a difference in the answer.