You're right... not a bad time to start. I own several other REIT etfs and they have all cut their monthly dividends by 50 - 75%. VNQ pays quarterly but it probably won't be 9%. Should be a good time to average in a little bit at a time.
i too have been looking into this but not yet in , on the otherhand you can get 8 to 9% from PFF which is an ETF on investment level bonds so I am not sure if the yield drops much lower it would be worth it to own (considering the extra risks).