Once they have exhausted these resources, we have asked them to provide proof of either having been laid off or that their hours have been significantly reduced due to COVID-19, then pay what they can. 

No eating out, no travel, no gas and other expenses are reduced.

That cost may reduce your monthly cash flow. 

You are eligible to reduce the gross rental income with expenses that you may have.If you want a property in an LLC - you may need to speak with an attorney/title company to transfer the title.

Thus the reasoning of refi to see if I can reduce interest rate down a point or more in this time.

I may consider reduced rents after May for a defined period of time, say 6 months, with the understanding that the balance will need to be repaid within the year after the 6 month period ends.

It's to show that the benefit of the refinance outweighs the costs and prevents you from getting screwed.

While fees would be paid by the tenants, I'm concerned that this is basis for a reduced term rental permit and impact my ability to renew permits. 

Does the order prevent landlords from taking legal action to collect rent?

This will reduce your projected cash flow from the $750 value (your pro forma should always be based on more conservative numbers and only corrected as the numbers get more accurate).