Once the smoke clears, any tenant that has failed to pay rent will be subject to the unpaid balance, including late fees and any other applicable penalties.

Real Estates taxes of property that is purely held for investment such as vacant land or a long term rental that is not in service may continue to be deducted on Schedule A subject to the 10k limit on state and local taxes. 

There are also ways to partner in your IRAs, ESAs, HsaS, 401ks, SEPs, SIMPLEs , etc.There is jumpstarting your Ira with a wholesale deal, a “subject to”, or owner financing, Have you considered buying discounted notes? 

In the short term, with the stimulus package having passed, the C areas with the low rents may do better than B areas with the rent given the direct distribution checks and bolstered unemployment checks.

I am interested in buying it outright or take it subject to the existing financing if you were affected by Covid 19 ...This will start happening by July at the earliest.

With the passage of the CARES package allowing IRA withdrawals without the 10% penalty and being able to report the distribution evenly over 3 years, I have been considering taking $20k out of my IRA to pay off a loan that is keeping my DTI above 45% and preventing me from qualifying for an FHA loan with a loan amount enough to purchase in Socal.

These amounts are subject to reduction if the individual’s Adjusted Gross Income (AGI) exceeds $75,000 ($150,000 for a married couple).

My initial plan was to begin building a rental portfolio via buy and hold and BRRRR strategy; however, given our current situation with COVID 19 and probable downturn in the economy (no matter how slight or severe people may think it will be) I'm strongly considering pivoting my focus to purchasing properties via "Subject To" and/or seller financing.

You likely won't be able to take title to the land with a lien on it unless you did some kind of "subject to" deal, but I don't think that's even feasible.My opinion, see if you can get it separated from the rest of the mortgage, if you can't then just go find more land.

Any Investors in Quebec Area using this strategy ?