I do not have an LLC, just a person with a property with tenants that have not been able to pay rent for over 6 months, and can’t evict them with the current crisis.

@Rehaan Khan economic events happen long before a real estate market sees the impact, if it does at all.

After sitting on the sideline for a year or so, the economic uncertainty from Covid-19 has inspired me to take a leap of faith and hopefully acquire my first rental property this year.My parents recently retired and moved to Lake Worth, Florida, and as a result I'll likely be down there a few times a year.

Due to the recent events with covid I've noticed a good amount of homes pop up for sale at lower prices than normal (Houston), I'm eager to take advantage of some of the deals but before I jump the gun I would like to hear some feed back / advice on what i should be weary of considering this overall economic down turn ( lot of unemployment happening in the oil industry down here) .

Sounds like you both have good, stable jobs that will last through whatever economic environment we're shifting into, so now may be a good time to take advantage of those low rates.

Interactive map for Chicago can be found here: https://data.cityofchicago.org/Community-Economic-Development/Boundaries-Enterprise-Zones/64xf-pyvh.Save some money on your materials!

How long do you think the pandemic will affect the Real Estate Market?

This is an economic crash caused by a pandemic, not a real estate market crash caused by a lending crisis. 

I’d be a little concerned about economic conditions in Central Florida but so long as you set conservative assumptions in your underwriting there should also be some good opportunities too.

Solid economics trumps tax benefits hands down every time, plus tax benefits are a given you get them no matter what.