With the unemployment claims backlog, furloughs and layoffs taking place in early April, I am guessing we will see a big drop across the board in collections May 1. 

Not that I am going to get rich off the interest, but every dollar helps.As far as your realtor income, are you saying they failed to claim your commissions? 

I am a real estate investor and I am in the medical field so owning and operating a RAL is intriguing to me.

If we keep cutting off large sectors of the economy (elective medical procedures - all food service workers, hair dressers, schools, event/promotion industries) for another 4 weeks - you will see a super cascade effect in the economy that could be where we have 30%+ unemployment. 

2) It looks like we have to sign a quit-claim deed for the property to be in my husband's name, which triggers a gift tax.

Think of it this way....if the tenant takes you to small claims court, could you show the judge that the tenant did the damage? 

There is always small claims court.Good investing...

What happens if they claim the landlord took one?

Background on the location: the neighborhood is a C+ transitioning to a B- near a large medical center with 12k+ employees. 

The point is that distressed areas have such prices because it is difficult to invest there, and areas that appreciated the most rapidly may well have peaked to unaffordable levels.I saw a podcast recently where it was claimed that high-end grocery stores like Whole Foods Market and Trader Joe's are a good indicator of a high-end neighborhood.