I'm just pleased what we chose to do has worked, for at least the month of April, with zero loss of revenue. 

My biggest suggestion for you is to improve your credit score and start reading as much as you can.- The Millionaire Next Door- The book on Rental Property Investing- The Book on Investing in Real Estate with No Money Down- Long-Distance Real Estate Investing- The Millionaire Real Estate Investor- What Every Real Estate Investor Needs to Know About Cashflow- How I Turned $1,000 into a Million in Real Estate in My Spare Time- Rich Dad Poor Dad- The Book on Estimating Rehab Costs

Tenants who have been approved for unemployment are automatically authorized Section 8 vouchers with online verificationAt the end of the year landlords will receive a 1099-MISC for each property for the amount of rent received which is totally subject to depreciation.At the end of the year tenants will receive a 1099-MISC for the amount of rent paid on their behalf and subject to their tax bracket.This can all be set up online, is totally verifiable, and efficient.When you no longer qualify for unemployment, you lose your section 8 and landlords only qualify for rentals that have unemployed tenants and not those with the ability to pay.Again this can all be done online and is simple for both the Landlord and Tenant to understand.It is also the correct way to do it by the Internal Revenue Code.This SBA Loan program is a complete sham and is being run by the BANKS under guise of the DEPT OF TREASURY.I would get a lawyer opinion before I would do this, because not only are you going to go bankrupt you are going to wind up dealing with the bank secrecy act and treasury regulations in addition to the IRC.WARNING LANDLORDS YOU ARE PLAYING WITH FIRE IF YOU GO THIS ROUTE. 

One of the biggest differences between the LLC and S-corp for real estate relates to self-employment taxes, which might be what you are alluding to in your post. 

You're 10% discount is now added to another 10% in annual increased operating costs -- and I don't see rents pressing upward this year so you've lost your hedge.Your main goal as a real estate owner is to increase revenue and decrease expenses, period.

Do you agree the biggest issue to real estate would be higher rates?  

Of the last 5 recessions we have had since 1979 real estate values have appreciated 3 out of 5 of those times.  2008 being the biggest drop for obvious reasons.  

I have a friend who works at one of the biggest development firms here.

@Ryan Holland - I think you will see an uptick on lenders offering long term options this week.The biggest adjustment today is the rate those loans are offered at.

The difference is that when you have 1 property you would need to keep expenses to cover 100% (1 month vacancy is 100% of your revenue), by the time you have 20 (units), your vacancy will be more like 70% ?