In the next few months you'll see which "furloughs" turn into actual layoffs, and the likely stalemate from a stimulus standpoint will affect vacancies and collections. 

If they let you go (layoff or fired) you can collect unemployment.

Jesse - dont you want to avoid 2nd mortgages - if the person - no fault of their own - medical emergency, layoff from 12 years of steady employment etc happen - defaults you probably get nothing.?

given this scenario.great tenant.. works in hospitality or some other niche that is suffering and has a temporary lay off.. 

To pay the extra $$ for healthcare, we will have to lay off an existing employee.

There is a chance that everyone working from home becomes more permanent and further reduces that metric (not to mention having fewer employees overall if layoffs/furloughs become permanent).I expect small retail will have some immediate challenges, as many of these smaller tenants simply don't have the necessary balance sheet to survive an extended quarantine scenario.

I just got a call from a tenant that had a temporary lay-off and wanted a deal, her wealthy mother who makes as much as I do co-signed. 

That will lead to layoffs. 

Which could result in layoffs, less hours being worked and such.  

The companies that will stay down after a recession are the ones that went in weaker, and had to lay off their core talent, give up critical assets, end up buried in debt, or didn't have the funds to develop any new products while their competitors did (ie, you should have bought those competitors instead).