In my personal thinking I'm working to base my decisions on the observed past and the probable future, which leads me to believe that the rental market will be unfazed or even benefited from the economic crunch (which should affect the number of people who can purchase, pushing or keeping several more in the renter pool)

Economic Update(Monday, August 10, 2020) The resurgence in coronavirus cases is sidetracking an economic recovery that gained steam in May and early June, slowed in July, and now indicates a rocky path ahead.

The markets that you mention are all traditionally considered good cash flow markets but they are very different in terms of their economic and demographic fundamentals which are important for long term hold.

The sheer amount of need in this time of crisis is staggering.

Also, having privacy in the back or even a view adds to the value.They are an economical hotel alternatives for families and especially popular now during Covid since they have private keyless entrances.

I'm curious what some of the more experienced investors would propose, especially given the current economic conditions.

@Dick Rosen - yes, I'm still seeing strong competition from buyers in my markets, which just seems completely disconnected from the reality of the current economic situation. 

Everything can be passive income as long as you know how to automate.Now if you buy your houses with your own cash and the market crashes, put a tenant in there till the crisis is over.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

I had conversations with many lenders this year, and lending standards are much more strict since March, when the crisis set in.