Gotta pay $20k to your tenants!

On the PPP, does that apply to paying off the loan in full and/or paying down the loan incrementally during the terms?

That means you own the home, and the bank owns the note you are obligated to pay to them for buying the cash from them. 

Find someone who you know can pay & someone you feel will respect your home. 

Leaving it at June practically insures they have to pay a lease break fee which is fine if that is what you need to do but consider how you want the next lease to run.

Welcome to the site @Will Leon!

I think relationships with the owners are very important as well - the more you can developed a relationship with current owners the more likely they are to "help" a newer investor as they feel (in part) like they are paying it forward.

Before we bought our new house which wasn't quite planned, we refinanced our townhouse to a 15 year mortgage to speed up paying it off.

if you don't have that relationship you need to get on site as often as possible to ensure things are going well or hire a local property manager to oversee things for you and then rent it out for you.

If it is a refinance, we would look to pay off any current mortgages, finance the closing costs, get some cash-out if desired, and fund the rehab.