I had the sellers redo the power panel, replaced the AC and currently, renovating the rest.

@Zee D. this was just announced yesterday in IllinoisIllinois DCEO Says Open Houses are Not Allowed Today, the Illinois Dept of Commerce and Economic Opportunity (DCEO) has added language pertaining to real estate as an essential service to the official DCEO guidance on Essential Businesses and Operations FAQs.

I just got a mailer for a property from a local investor yesterday, so he is still hustling for deals as normal.But I am going from a things will be fine pretty soon to a "let's see what the rest of this week looks like". 

I think there should be rules in place for those who have legitimately lost income completely from this virus specifically, and a no-tolerance policy for the rest whom are trying to benefit unjustly.

Here's the deal:Agreed price: €159,000€1000 Reserve put down and lawyer instructed10% deposit not yet paid (can walk away)70% mortgage pre-approved but not officially offered (€514/m) pre-Corona rental income: €850-950/mBased on no particular expertise but a bit of research I came to think that any dip in the real estate market due to COVID-19 was likely to be V shaped and short-lived.

Hey so I’m officially trying to jump in to real estate investing.

Here is the verbiage of the current NY State  bill:  https://www.nysenate.gov/legislation/bills/2019/s8125and, most offensively,  HERE is the website of a movement to "CANCEL RENTS"   https://www.housingjusticeforall.org/faq-what-to-do-on-april-1Below is the letter we sent to NY state Governor Cuomo. plus MY State Senator, plus the Senator who drafted this bill, and all NYC Housing Depts and officials. 

If I was able to put 3.5% down via FHA loan, and utilize much of the rest of capital for rehab, we could increase equity across perhaps 4-5yrs, reduce monthly expenses and begin to see this start turning profit via appreciation, tax benefits, etc. 

For LL that have a more direct / personal connection to their tenants, perhaps option 1 would be the best strategy.I'm optimistic that we'll see 75% rent paid on time , and collect the rest gradually, at least for April. 

Conservative Analysis, Restful NightsWith coronavirus, there has been some uncertainty in the single-family and multifamily(100+ unit) space.