If a Landlord can't survive this current situation, they're probably due to fail in any economic downturn.Please condsider that this is about much more than someones ability to have reserves.

I know you have a property here locally and personally I LOVE Portsmouth for it's cash flow ability and have an 8 unit there myself, but Portsmouth even though close, is drastically different from the Chesapeake market and certainly in the eyes of the renter!

With the fact that you don't have enough data points to determine supply vs. demand and how it equates to value of the basement, I think you'll have a hard time getting him to budge or proving your case.

But to answer your question about real estate- my core of who I am aligns with the ability to give people an opportunity to call a place their own.

That way I get to determine how it's use, not the bank. 

In CA, your inspection clause allows the buyer to bring in inspectors to determine the condition of various portions of the house.Home inspector inspects the general well-being of the propertyGeo engineer inspects the soil of the propertyetc.In CA, buyers have 17 days to get all inspections done and sign off on the inspection clause. 

Once you determine initial site capacity and feasibility analysis to  determine what you can build and that it will work financials you will need to compile a complete package for the lender.

Would this impact your ability to get lending if you wanted to purchase something during this coronavirus pandemic? 

I am working on going through the today. 3) The house has the ability to add an extra room or bathroom for someone who may want to flip it.4) Everything is set up with the title company and he even gave me the contact at the title company. 5) He is getting older and is motivated to sell.

These SBA loans supposedly DO apply to sole proprietorships (and other business structures, like LLCs, etc.)So the question is: As rental property owners, even if we don't have employees, are we able to apply for one of these SBA loans for our rental property business due to the uncertainty of economic conditions caused by COVID-19 (namely, our tenants' ability to pay rent in the coming months) or is this just wishful thinking on my part?