i agree with robert not all landlords are alike.but one thing we all have in common we bought are buildings on tenants paying rent.if does not matter if one unit or 1000.we all counted on that tenant paying rent.so do wantever helps you do it in collecting rent.i have found now will most tenants i will talked to most have their april rents ,and will probably have may rent will stimulas check.so start building up a cash reserve,put all major  remodeling  on hold.just fix what you must.your job now is to babysit your tenants ,try to get them to realize them stimulas check has to last along with those unemployment checks.i know none of you have signed up for this,but you have to adapt,or you will be one of the landlords that will go out of business.i seen many in 2008 ,that will stubborn in their ways and it hurt them.i was one for a liitle while then too.but you will learn without threat of eviction certain tenants our going to think they do not have to pay.your best chance is tell them work with you now to evoid eviction later.some will work out,and some not.but that is just like when you pick a tenant,you really do not know to 3 months later,if you got lucky and picked a great tenant.

There's a common misconception that cap rates move up so prices move down, or cap rates move down so prices move up. 

I'm not advocating throwing people out during this situation, and think that regulation goes to the lowest common denominator. 

Depending on the loan product, you may be able to get non-recourse debt, which isn't common or seen on the residential side.Best of luck moving forward! 

There is new hope since the FDA just approved the off-label use of some very common drugs that have shown great promise in treating Covid-19.

Even if your tenant loses their job, the stimulus will ensure they get most - if not all - of their income back through unemployment and stimulus checks.Although late rent will be much more common, there's no reason why tenants shouldn't be able to pay their rent eventually and catch back up.

Last question on this, besides RE taxes, any other common expenses this applies to?

The good news is, you have less debt now. quite common during the GFC Anthony hundreds of thousand   helocs got frozen.. the issue is NO ONE reads the fine print in the 20 page mortgage or deed to secure debt whatever your using. 

The more people you talk to the more you will learn how to speak with people and recognize common objections and how to handle them. 

Michael, It clearly sounds like the repair work is more extensive than what the seller is reporting (very common).