I delivered the hardwood last week so it could sit in the house for a few days before laying.  

I was talking more specifically, if your structure allows you to return capital, and that return of capital cancels out their preferred return (i.e. 8% pref on investment of $100k, then you return 75k, and now their pref payment is only 2k/yr and they just need to sit getting next to nothing until you decide to sell).

@Jeff S., it is a 2 bed, 1 bath in NE Portland.

Sitting at home and playing fortune teller is only fun for so long.

My question is should we continue to dollar cost average during this time or put it into a savings account and just sit on the sidelines?

Regarding your tenants and advertising the property after your project is done, its not going to be constructive to sit here now and try to play the "what if" game for after the virus. 

Currently it's not rented and just sitting. 

After it sits for 4 days (to let all the germs die)I've been pondering on collecting more than first months rent or increase security deposit or prepaid rents till everything is calmed down. 

I can get this extended but who knows how long COVID-19 is going to disrupt our lives and who knows where the market will be after we are back "normal" and lots of lost their jobs so certainly want to do everything to not allow this to sit.  

I would encourage you two to sit down and talk about what you would like be true of this property (in 1 year, 5 years, etc) and make sure that you both thinking of the objective as the same.