Retail stores closing in massThe devaluation of the dollar will be a huge one.  

Clearly, it's not the tiny houses - it's that the Alberta Street ones are too close together for privacy that devalues them to me.

My prediction: Corona increases > second shut down > More unemployment > more loan forbearances > flood of business bankruptcy's and loan defaults > banks have big problem > fed bails out > some banks fail > real estate prices stay the same or go up until early 2021 > Fed will probably do another cares act and extent forbearance period > then it is possible the dollar will continue to devalue > then inflation will occur > real estate prices will go way up > US goes from cash to Crypto > politically, either way the election goes we will have instability and unrest.

Or, more likely, he invested in real estate and used techniques to devalue the asset(s) on his books while still holding the asset. 

Then look for the devalued properties that you can add value to.  

White appliances would devalue the new kitchen + granite that you've put on. 

If you are doing the majority of the work (finding the deal, managing the rehab, etc.) then you are devaluing your time.  

There are loan limits depending on the number of legal units, for FHA they are: FHA 2 Flat $468,150 3 Flat $565,900 4 Flat $703,2501, If it is zoned as a 4 unit you would devalue it by making it a 3 unit2.

He is worried about the potential devaluation of his property and loss of unrealized income.

Rental property is generally considered to be an inflation hedge, but if we get hyper-inflation and a major devaluing of the dollar, with extremely high unemployment and a govt that can't stimulate anything or support massive public housing/Sec8 spending due to a huge portion of quickly-shrinking tax revenue being spent on servicing the massive federal debt... then frankly I don't know how property will perform.