Thanks for catching my mistake in including the wrong rates and terms for the HML.Assumption used for calc:  in light of current state of affairs, though I have spoken to several HM lenders, I cannot get a quote as operations are on hold. 

I wanted to know if anyone else has made this mistake before and how did you handle it. 

This is really what I see as worst-case utility scenario in Old Town but it's what I use to conservatively estimate my actual cash flow.Thankfully, these are all factored into my cash-flow ahead of time, so it all works out, but I do have plans to upgrade windows, insulation, heat system, etc. eventually.

Each deal will be better and better as mistakes are made and systems are built. 

Worst case is we go through with the purchase, spend a bunch of money on renovations which leaves us with depleted cash reserves, can’t get current house sold or rented then job loss hits.

@Shayla Collins too soon to panic, but I would preparing for the worst case scenario. 

I was looking at worst case around $150-160/sqft.

I believe that they are waiting for the worst of the crisis to pass and to see markets stabilize before putting their capital at risk, which I think will happen in the next 2-4 months.For anyone who needs to sell because of liquidity concerns, they might have to take a good discount until buyers return to the market as well.This is a unique phenomenon as the economy was in good shape and the crisis was a man-made shutdown to reduce the lethality of the pandemic.

If they fit the criteria you set for the property, then don't punish them for their in-law's mistakes. 

They will cause the landlords temporary pain, accrue late fees and back rent, and eventually when America reopens, get evicted, sued, and have their credit ruined.In that third case, a minority of landlords are being forced to basically donate free housing to the very worst behaving tenants.