You wont be able to cash flow with these kind of properties. 

Your exit strategy can suffer regardless of how you buy if you don't hold long term.

It will be the mortgage holder who suffers the most."

Simply remedy is to set up a Wyoming LLC which will own an LLC in the state of the property that way both of your names wont be on the house. 

My base case assumption is that there will be no vaccine until 2021Q2Unemployment doesn't improve in time the 2nd wave hits and remains over 10%... consumption erodes (70% of GDP is consumption spending)Corporate defaults lead to further economic weakening Commercial real estate (office/retail/hospitality) suffers as borrowers can't refinance or sell at their expectationsClass-A multifamily suffers in markets with a lot of supply.

And that also relies heavily on the ARV and assumptions there so you get that wrong the first time, numbers will be way off or you wont be able to refi/get the money back out.

Changing the Cap Rate has no affect in all the other aspects that buyers keep in mind when evaluating a property, so if you have all the other things that qualify the property to a buyer, then you can change the cap rate around 1 percent to get your profit, as it wont really affect the buyer at all as they have all there important requirements, and like you guys said and I know, investors don't really care for the cap rate number a ton and its far from the deciding factor.

My base case assumption is that there will be no vaccine until 2021Q2Unemployment doesn't improve in time the 2nd wave hits and remains over 10%... consumption erodes (70% of GDP is consumption spending)Corporate defaults lead to further economic weakening Commercial real estate (office/retail/hospitality) suffers as borrowers can't refinance or sell at their expectationsClass-A multifamily suffers in markets with a lot of supply.

You wont be able to find a good property management for 6%, decent property managers will charge a minimum of 10%.

I think the commercial sector as a whole is about to suffer big-time.