Willy @ The Real Estate Project

That's a very good question. 
Depending where you live in the United States can have different outcomes. 
I'm currently living in California, but because of the train wreck of California politics, I will be moving. 
We also have a new President and Vice President. Both of who are know for their extreme Left thinking policies. Kamala Harris was the AG for California a few years back and when I contacted her office for help on a situation with an out of state company that was hiring agents to perform Broker Price Opinions for them, they would not pay the people. Her office was not interested in my complaint. I got a letter back from them that I wished I had saved it. Because I was a small business and would not be a benefit or value to Ms. Harris's political ambitions, they were basically not interested in helping me. I was kicked to the curb. I'd like to kick her to the curb. 
Enough of my political ranting. Back to the subject. 
With COVID running rampant, government demanding businesses close, people being told to stay home and no one working, no one has any form of income. Bills are not being paid, mortgages and rents are not being paid. Investors of rental properties can not evict non-paying tenants. Lenders have been told that they can not foreclose on properties. But the day of reckoning is around the corner. Depending on where you live, there are judicial and non-judicial foreclosures. This dictates whether a lender must first file a Notice Of Default (NOD) first, giving the homeowner or investor to bring their defaulted payments current or if the lender can skip the NOD requirement and go straight to the foreclosure. 
Home prices seem to be stable and in some areas even increasing slightly. But are we hedging on another real estate bubble ready to pop? Several investors I know and have watched online are all indicating a collapsing real estate market. The market will flood with REO's causing values to plummet. 
If all this comes true, you'll want to have cash to start grabbing up properties. You'll want to get to potential sellers before the lender is able to close on a foreclosure. Let potential sellers know that if they let their property get foreclosed on that it will impact their credit history. Educate these pre-foreclosure sellers about signing over deeds to their property to you to avoid impacting their credit. Some may even be willing to just sign over a deed and walk away. If they are slightly hesitant, offer them moving money. But always enforce that if you take possession of their property that you are also taking care of their defaulted mortgage liabilities. Yeah I know, the majority if not all home loans have a "due on sale" clause. But let me tell you, the majority of lenders will turn a blind eye to that once you start waving cash in front of their face.  
If you are an investor sitting on some properties, and have not defaulted on the mortgage, don't panic and hold on to your property(ies). The values may go down, but they always rebound. Sometimes creating an even stronger growth market.