Your worst-case scenario would be to push too hard and create an enemy that decides to stop paying rent altogether.....especially if the evictions moratorium gets extended another 3 months till the end of March (considering that covid cases are getting worse, not better).  

If a multimember LLC a tax return is due by March of the next year.

I am not saying this is what you should do.Ultimately, it should be some game plan you have with your attorney.Something to also be mindful of is that multi-member LLC's require the filing of a partnership tax return which is normally due March 15 with the possibility to extend to September 15.

C) Wait until March 2021 (1 year after purchasing #2), continue collecting rent, stockpiling money for emergencies, and do another HELOC on the equity in #2?

The economy has recovered 11.4 million of the 22 million jobs lost in March and April, but payroll growth has slowed in recent months.

The SFR I purchased in March down there is up 9% in 8 months!

Though it will be an anxious wait, I'm confident it'll close before my mid-March deadline.I went back and forth a lot on whether to flip or to hold.

Figures are as follows:Rent is typically $130k for period of March to OctoberProperty management will be 20%=26,000Insurance=$10,000Pool Maintenance: UnknownUtilities average $350/month=$4200Property Taxes=7,000I live in South Carolina now and I will still have long term rentals in Omaha NEWould you make the switch?

Restaurants and those businesses shut down for March and April but have been back up for months now.

I believe we will have an influx of foreclosures come January-March time frame but even then the stock market is at an all time high.