Renters Credit Report

[T.Yong Ling]

I have a question regarding renters credit checks.

Property at C+ location, a potential renters screening reports came back with a bad credit score (494), 3 collections accounts, 200+% credit used, not very good employment history. But her fiancee got a OK employment history with total income exceed three times the rent, but poor credit score (575), 2 collections accounts, 60+% credit used, total debt 160k (including a 95k FHA real estate loan that open on May 2017), and told me they are ok with more security deposit.

Should I stay away or maybe consider them ? 

Does all applicant and co-applicants need to have a good credit score?

Why people with FHA mortgage still looking for place to rent, and what is he up to? Need some advice .

Thank you in advance.