We have lived 100% on rental income since FIRE. We own one property outright (duplex), and have a small mortgage on the other (also a duplex). Four total units with dual incomes in a HCOL area. Our PM is not charging late fees, evictions have been outlawed here for now and there will be no new leases until things settle down. We sold our larger, boat anchor property two years ago and are so glad we did! Proceeds allowed us to pay off one property which makes this far less stressful than it would be if we had three mortgages!
It will be interesting to see how things play out. We have cash on hand for personal expenses of at least 2 years IF we get enough rents to cover the rental unit costs - quick head math says...we need 1 unit to pay full rent (or any combination to equal one unit's rent) to cover all rental expenses. Rents are close to the same for all four units. We've kept up on maintenance and can defer a few things. One tenant has an ongoing issue that will have to be tabled for now.
Properties are in Washington state, and unfortunately (or fortunately) so are we. Our health insurance only covers us in network, so we are staying put as who knows what might happen health-wise.
The good news is our basic living expenses are just about free. We camp in the Thousand Trails system (we do pay a total of $83/mo for all campground memberships combined), and if that fails we have family property we can camp at (alas, poor internet and no dump which could be a big issue if rest areas are closed).
I also have my IRA which is riding a roller-coaster right now. I do have 30% in bonds and if we need to pull some out down the road, we will.
We have cancelled our major travel plans through June. We are so glad we didn't start as planned in February.