It's a risky time for both sides of any real estate transaction.I hate to sit on the side lines but I would rather be wrong than broke! 

According to the MLS, there are 4 or 5 properties within spitting distance of that intersection that are listed at $1,200 and one that is listed for $2k which has been sitting for over 2 months.

Do they sit and wait for them to drop?

I don’t want to get the property and have it sit. 

That way you are not sitting on a lame duck in times of uncertainty and you know the seller/tenant will have some funds available assuming they are walking away from the closing table with a few bucks on the HUD statement.  

Don’t sit on the sidelines waiting for a correction.

Many buyers are being scared off due to the current pandemic, but if you can stomach it and maintain a long term mindset towards investing, the prudent investor stands to capitalize on lower prices while the majority sit on the sideline. 

What it might come down to, depending on how long this goes on for, is do you want to spend the money to evict a tenant who isn't able to pay you and then let the place sit there vacant, or just let them stay there for time being? 

I'm working on my plan, and creating a strategy every day that I have time to sit down and focus.

I'm so thankful for that as our STR property (we had one unit in a triplex and were just in the process of furnishing the other two to get them online when this hit) is now going to be sitting vacant until we are through this - and you know what?