A good tenant often has some reserves of their own so most will continue to pay rent.Since you may be new to the game, know your local laws. 

Keeping that in mind I always tell people just assume closing costs at $10k and that way if it's less, you have some additional reserves to use.

I do have cash reserves, so I don't need a ton of credit available for emergencies.3.

And while people want to blame it on the virus our economy & society had deep flaws & risks many ignored & would not discuss like entitlements, socialism creeping in over decades & more like national debt & of course the elephant in the room of Federal Reserve manipulation & Keynesian not Austrian/Biblical Economics!

If you have some reserves to pay the HELOC payments for an extended period of time, you'll probably be ok.  

All my STR 's reservations have cancelled.

REITs with big position in hospitality assets but without enough cash reserves or credit lines would suffer more.

He said I had to have 15% to 20% down and six months of payments in reserve which I do.

Sorry to hear that, as long as you’ve got cash reserves.

For myself I know the builders in process of building $2200 a month Class A+ rentals all around north dallas suburbs are going to be in a world of hurt.My discussion 3 years ago on this topic was really active yet no one thought it would happen anytime soon.The truth is this virus & our over-reaction to it has exposed the true weaknesses of our system & Keynesian Economics.We need biblical/Austrian economics & savings & investment now more than ever not more stimulus with money our grandkids don’t have, stimulus & federal reserve shenanigans!