It's not the end of the world but it hits my cash on cash return by almost a full 1% and reduces my cashflow each month (obviously). 

The building has 2 - 2 bedroom apartments and 2 - 1 bedroom apartments.My renovation plan includes converting the existing 2 bedroom units which are large into 3 bedroom units, and installing new heat & water systems to allow the tenants to cover their own utilities and help reduce my operating expenses.The asking price is $1.5m.

Yeah, uncertainty can provide for reduced investment and productivity in the economy as a whole.

That is done by either increasing revenue by raising rents and other income or by reducing expenses.

Property type: commercialConsidering the 30 year mortgage interest rate has been reduced to about 4% now, is the above term still attractive in today’s market?

If they've reduced twice, I would only expect to be bidding 10 percent under the new list price to have any success.

Here are a few things to do: Many banks are offering mortgage forbearance to postpone payments for 3 months,Make tenants sign repayment agreements when agreeing to reduced rent,Enforce the “no waiver” and “payment” clauses in your rental agreement,Take tenants who don’t pay to court after this is over,Report unagreed upon nonpayment to credit agencies... basically, landlords still have the upper hand.

Just be sure to increase rent accordingly or find way to reduce your operational expenses.

For those not looking to rent to family or friends to reduce any conflicts that might arise from a close relationship being tainted by business gone awry.Do you have any tips on finding roommates?

They should talk with their tax professional- because there are several ways to potentially reduce/ defer that gain/tax...but they vary greatly depending on their tax situation.