The decision was specific to the CDC moratorium, which applies to areas in which COVID numbers were very high.  

. - I am planning on establishing an interest list of prospective tenants and then flying and out to Texas to do a weekend long open house as well as inviting people to apply on zillow rental manager as well.

Would that apply to a multi unit?

Your metric of 1% looks like you are using a SFR metric which does not apply to multifamily properties. 

If you have to evict it will be a breeze since it is not residential the moratorium on evictions would have not applied. 

Make sure your rental criteria is written and applied consistently to every applicant with no exceptions. 

Its a matter of how percentages are applied when calculating. 

You wouldn't be financing the reno money, but as long as it could still appraise for $440k, you would be able to use the money saved from the lower down payment to go towards the reno.While I am definitely able apply for a convention loan, as a touring musician during COVID and one that writes off much of my income through my corporation, my tax returns leave me out of the running for a decent conventional loan.

Also, applied for a LOMO to get it out of flood zone.

When tenants can't pay the rent they can try to get a job, apply for welfare, apply for rent relief, go see the priest, or whatever.I run several businesses in California and I try to make believe that I am a manager who is working for a corporation in New York and I have to answer to that corporation for reasons e.g. why I made personal decisions to let tenants get away without paying their rent when I had the option to hire an attorney to evict the tenants.I own several fairly large apartment buildings and every tenant paid their rent on-time since COVID started with the exception of one 65-year old woman who lives in a studio and her rent is $1250.