There were so many things done wrong, imho, that caused the prolonged downturn.

How long will you have to carry that extra mortgage, based on your language you are not comfortable with it for a prolonged period.2.

Certainly no disrespect taken, I do actually plan to offer my (7) units currently under renovation on the section 8 website as a mitigation strategy for a prolonged recession (which I hope to God we don't have).

What are the actions if we don't reach an agreement to prolong the lease?

Better off taking $900/month on a $1000 unit than potentially taking a prolonged 0 on it.

It seems to me that a very simple answer to this situation, if things are prolonged, is to simply allow landlords to defer mortgage payments, similar to what is already being done for homeowners. 

I don't expect the firesales to happen just yet but folks will get more motivated as this prolongs. 

If the after after shocks of covid create a thing where jobs come back very slowly and business remains slugish and we are in a prolonged reccesion then I think there is only one way for home prices to go.

That is something that I think can cause this to be prolonged longer and putting the economy on a halt for an extended period of time.

The market rent has built into it the associated risk factors including the risk of non-payment due to prolonged job loss.