I just figured if I don’t use the heloc it will not impact my debt to income, but I’m sure they still look at it as a risk factor.

The obvious areas like Vegas and NYC I can see why they may be impacted.  

That's a great example of one person having a big impact on their town.

Additionally, if you get found out for mortgage fraud, that could make the lender who issued the loan to you look really bad to the regulatory agencies which could negatively impact their career

How will this impact the coming years ?

How long do you think the pandemic will affect the Real Estate Market?

Sounds like there was a material lapse in communication with your lender, which led to information surfacing during underwriting that negatively impacted your deal. 

The market you are investing in can have different influences that may impact your ability to find steady cash-flowing properties. 

As others have already mentioned, any future assumptions can have a notable impact on value if those assumption turn out to be wrong.

In apartments, skips are common which does impact turnover costs and lost rent, but you can usually fill it with another tenant even if it requires concessions.