While it is easier for me to do this since it's my normal day job, these codes are written fairly simply.

They will deduct normal wear and tear but honor lost rent and vandalism don't do anything till an adjuster has walked through the unit.

i pulled the trigger and closed on the 23rd on a 4 unit.. it was my birthday present to my self. the way i look at it is if you have reserves set up and you find a good deal go for it. best time to buy is always now. markets go up and down for all we know this will pass in 2 weeks or last for ever. it helps that when you close you normally have a month or 2 before your first payment is due.

Normally appraisals come in a little above purchase price surprisingly!

I worded that way because my understanding is that if worded as 1st, last and security, It could be perceived in court that was the person was a tenant, making me responsible for repairs or other things that a normal landlord/tenant relationship would entail.  

Is it normal for commercial lenders, particular alternative funding firms, to require a non refundable deposit for appraisals, inspections and multi phase studies?  

Airbnb just announced today (March 30) that they've set aside $250 million to offset losses to hosts.The press release states, "When a guest cancels a reservation due to a COVID-19 related circumstance, with a check-in between March 14 and May 31, we will pay you 25% of what you would normally receive through your cancellation policy.

Since you are at 4 properties, you will not be able to go through the normal channels for a mortgage.

That is not a recipe for falling prices. (6 months of inventory is whats considered normal market balanced between buyers and sellers)

Normally it's an easy lift with this type of deal in this location.