As part of the lease agreement, the LL retained one of our three attached garages unavailable to us.

Also what happens if I only have the unit unavailable for lets say 1 week then a tenant moves in due to small repairs that are needed to be done

The tax sales route seems a strategy for those trying to deploy idle cash.Having cash 'unavailable' for 2 years or however long it takes the defaulter to redeem the property, just to get 5% could be very costly.

Premium 1-bed housing is sparse in this area. 1 bedroom SFR unavailable. 1 bedroom condos do not exist within 15 min drive.Thoughts?

I took a quick look at the all the calendars for all the listings, I didn't see any differentiation between "booked" or "unavailable" You can take a look here: http://bit.ly/1dFsALi, and see all the calendars in costal orange county.

@Chris ClaflinVery valid points ... and I hadn't considered when I would be unavailable, which is often due to work. 

If they're unavailable for one of the group showings and need a private showing, I send them a Google Form where I ask all of those pre-screening questions.

One of the reasons we fired the PM was unavailability and ditzy office staff, and they were a full time office.  0% vacancy after 1 year only? 

(e) Emergency grant(1) In general: During the covered period, an entity included for eligibility in subsection (b), including small business concerns, private nonprofit organizations, and small agricultural cooperatives, that applies for a loan under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) in response to COVID–19 may request that the Administrator provide an advance that is, subject to paragraph (3), in the amount requested by such applicant to such applicant within 3 days after the Administrator receives an application from such applicant.(2)Verification: Before disbursing amounts under this subsection, the Administrator shall verify that the applicant is an eligible entity by accepting a self-certification from the applicant under penalty of perjury pursuant to section 1746 of title 28 United States Code.(3) Amount: The amount of an advance provided under this subsection shall be not more than $10,000.(4) Use of funds: An advance provided under this subsection may be used to address any allowable purpose for a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)), including—(A) providing paid sick leave to employees unable to work due to the direct effect of the COVID–19;(B) maintaining payroll to retain employees during business disruptions or substantial slowdowns;(C) meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains;(D) making rent or mortgage payments; and(E) repaying obligations that cannot be met due to revenue losses."

With the price and sometimes unavailability of construction materials, plus rising mortgage rates, I would think that new construction would be a risky proposition.