I had to move out their furniture on my own since their off boarding team only had availability in mid May. 

You will get your equity in the form of gifts from your tenant (supplying the funds from the rent to pay the mortgage...including principle), and appreciation.If the property value goes down, that rarely drops the rent...at worst, it will stay the same. 

Such a large increase in the money supply often leads to some amount of inflation, but that is tempered in the short term by the economic woes.

Since I don't know what exactly you are looking at I can't say for sure if you are looking at ads where you need to supply your own land or not, but if it is that much cheaper than everything else it seems like a distinct possibility.

They left couches and furniture upturned on their sides, blocking doorways, randomly moved from their locations.

These guys had regular C class stuff - TV, PS2, shoes, tons of furniture and housewares, framed artwork (kind of cool - worthy of being on office walls), electronics, tons of clothes (saw a vintage 1980s G&R shirt in there which was cool), baby clothes, new stroller, crib, and a super nice Italian dress coat that fits me so I'm taking that to the tailor to have fitted. 

The question is whether there is enough supply and demand. 

If someone slips and falls outside the property, or a pipe bursts and damages a tenant's expensive furniture, or a tenant's dog bites a mailman, or a tenant makes a claim for 2x his security deposit for alleged mishandling of funds- you could very well find your name listed at the top of a lawsuit.

We may be entering a period where there is an increased supply of REO properties, so I would do your homework on those and network with other investors who also invest in REO properties in your target location. 

That being said, I think the disruption on the supply side could take longer to restore, which could negatively impact everything, particularly if the outbreak is not contained evenly across the world.