If you take it off the market for a month it resets the clock.

First and foremost, I hope everyone is staying sane and healthy, we may be quarantined for some time but this could be an amazing space to reset, reflect and recharge from the fast paced city life that we have become accustomed to.

The banks will close (Bank Holiday), and a financial reset will be declared that includes essential steps toward establishing a global cashless monetary system. 

(even if tenants pay, you should factor some cost during turnovers or for when you get stuck with the bill).Insurance Taxes - Depending on location, taxes will reset to purchase price.

Hi JamieThe key is to get the current tenants out so that you can reset the rent.You can always ask the Sellers about the possibility of "cash for keys". 

For more context though, rental units in Ontario are subject to rent control, and it typically varies between 1-2%, so $50 increase over 5 years is pretty standard, unless there’s a turn over in tenants, which is when rent can be reset. 

That way you can house hack.If you decide that you will reset your life then you have a lot more research to do. 

Many owners that bring a property to rent will opt for a 6-month lease at this point of the year so that the lease period resets in the hotter (temperature & market-wise) time of the year.

And once he has the unit back in his hands, he can reset the rent to market rate.

Borrowers had locked in short term, low interest rate loans prior to that period, and when the interest rates reset after the inital fixed rate "teaser" period, the whole market imploded.It is true that there is less subprime borrowing now, and generally loan terms are longer, and so a dramatic crash like last time probably isn't in the cards.