@Rehaan Khan economic events happen long before a real estate market sees the impact, if it does at all.

After sitting on the sideline for a year or so, the economic uncertainty from Covid-19 has inspired me to take a leap of faith and hopefully acquire my first rental property this year.My parents recently retired and moved to Lake Worth, Florida, and as a result I'll likely be down there a few times a year.

Due to the recent events with covid I've noticed a good amount of homes pop up for sale at lower prices than normal (Houston), I'm eager to take advantage of some of the deals but before I jump the gun I would like to hear some feed back / advice on what i should be weary of considering this overall economic down turn ( lot of unemployment happening in the oil industry down here) .

Sounds like you both have good, stable jobs that will last through whatever economic environment we're shifting into, so now may be a good time to take advantage of those low rates.

I would hate to be the landlord of a stand alone restaurant business that isn't doing very well.

Interactive map for Chicago can be found here: https://data.cityofchicago.org/Community-Economic-Development/Boundaries-Enterprise-Zones/64xf-pyvh.Save some money on your materials!

Higher incomes lead to new restaurants, bars and stores, which further leads to people wanting to be there.And between COVID shutting down cities, and showing both employers and employees that working remotely can happen, I see an increased demand for these types of opportunities. 

How long do you think the pandemic will affect the Real Estate Market?

This is an economic crash caused by a pandemic, not a real estate market crash caused by a lending crisis. 

Well, there are a few ways: start knocking on doors, give folks in the neighborhood gift cards or referral incentives for sending people your way, keep up the hand writing of letters (those have worked well for me in the past), and talk to local restaurants in the area to post your signage.