The building department closed down due to the Corona virus and are not issuing permits.

One tricky part would be the STR permit with the city of Colorado Springs.

A partner I have, his wife who is an accountant for one of the big custom builders in my area is laying off all of the workers today.  

Customer of mine went into AirBnB arbitrage (despite my reservations...) and is three months into a lease with all reservations cancelled.

It would sit dormant because I cannot pull permits for needed renovations.I told my agents that I will not go hard on the deal, but I also assured them that I will not retrade the deal unless $/sqft prices fall significantly., which they might.

HousingWire broke the news that "after pausing all iBuyer operations, Zillow is now canceling contracts with existing customers." 

Utility permits and site work can add up very quickly.

So you'll either have trouble selling the property or take a serious haircut on the price from a landlord buyer who knows they won't be able to raise the rent for the next few years.Lastly, you don't list what state you're in, but you should know that if you're still considering a 5 year lease after everything I wrote, in some states a (residential) lease that long has to be notarized to be valid and in other states a (residential) lease that long isn't even permitted/legal. 

@William Eric SchaeferYou should check with city permit department to insure you wont be required to submit drawings for work to be done.

Now a customer of mine lives strictly off his rentals , has about 100 some C properties but mostly D properties , leveraged bretty good , he always ragged on me for not using the banks money to buy more .