How do I navigate these difficult times and ask for a re-bid, taking into account the likely decline in labor costs without coming off as a jerk? 

We would make sure of the product and that the pre approval was real.. then we required 1k down and would fund 100% of the rehab and buy of the property.. 

@Ross Denman and a lot of them do it with portfolio loan products which can get even more dicey in times like this

Has there been a drastic decline in bookings and increase rate of cancellations?

These are short term, and this author is hopeful, that the pandemic does not cause long-term financial implications.Rather than serve a 14-Day Notice to Pay or Quit it is recommended to be as flexible as one can at this time and negotiate rent amount due, time to pay or both – IF financial hardship is evident.For Landlords or managers that don't have the desire or ability to provide any flexibility, be prepared to wait until at least April 17th before the Massachusetts Housing court begins hearing eviction cases for non-payment of rent, (expect a back-log), and tenant-friendly judiciary at that point.A side note: for those that are unaware, or have historically not been interested in Section 8 or other subsidized housing programs (even though it's illegal in Massachusetts to decline an applicant solely based on the source or their rent payments), now is when you see some of the benefits – for tenant and landlord alike.

This week we have seen LTC's return to 85%,90% - 100% LTC / 100% rehab / 70%-75% ARV with rates declining to 8% hard money, 6% on rental acquisitions up to 85% LTV.

I am a dentist, so obviously I can't work from home, but I need a productive way to spend this idle time.  

I also suggest considering a non-FHA low-down payment loan product.

I see three possibilities for that: the market will stay the same, go up, or decline. 

It's ordering a citizen to give away their product for 3 months!