As for "how does land perform in down markets" it performs fine, so long as you understand the markets.  

You might be fine where you are at but places like NYC are getting hammered and hospitals are at capacity of higher. 

Anyway im still polishing the fine points but i wanted to give you all the broad strokes.

https://www.ocregister.com/202...A violation of the stay at home order would be considered a misdemeanor, and so you could be hit with $1,000 fine.

If we get rents, we'll be fine and start refilling those buckets.

That might be fine, but they might be forced out of business if there is a claim, and then you’d have no sponsor there at all to manage your investment.Part of the issue here is we are in a litigious society, and the bigger you get the more you are a target for frivolous lawsuits.  

Every broker I have spoken with, and granted these were larger than $1mm loans, made it sound with the net worth, liquidity, management lined up, and good asset you are fine. 

Put up signs and write to tenants directly saying it's prohibiited and grounds for a fine then eviction.

In this market the ones with staying power will be just fine .

What kind of fine would you incur.