@Mike MendezPutting less than 20% down on an investment property is an extremely bad idea.

Any advice would be extremely appreciated.

Based on what I heard from STRs in China (only country currently relaxing restrictions), generally it is extremely tough even after things loosen up for following reasons:1) No international travelers - By summer or even fall, most countries will likely continue to have travel restrictions2) No big conferences or concerts or large festivals - Nothing is planned for at least 2-3 months AFTER lifting of restrictions.   3) Not much business travelers- Business continue to discourage business travel due to liability concerns.  

I have a feeling we will see more and more of this even though the market is still extremely low inventory.

And it's extremely rare that I have enough equity built in to refinance.  

They are extremely overpaid for what they do. 

@Kris Russell I filled two of my units in the last 3 weeks BUT my market has almost no supply and extremely high demand so it depends on your local market.

HM lenders that I know in my area are extremely cautious. - Mike

For example, retail or office development may satisfy the first two constraints but are they both financially feasible?

Maybe photos of before and after would satisfy?