It's not that sexy I know, but it's helped me learn and understand a lot with respect to having tenants. 

There's certainly other aspects that you need to consider such as pricing, quality of photos & overall listing, is it clean/repairs are done, if there's tenants are they being decent to people during showings, are you requirements reasonable etc... 

Are their listings detailed with good-quality photos?

I would also try to familiarize yourself with local landlord-tenant laws, including fair housing regulations, security deposit limits, and notice requirements for entering the property or terminating a lease.Prior to renting, conduct a thorough inspection of the property before the tenant moves in, and document the condition with photos or a video walkthrough.

If they aren't interested in a better unit, then I would respectfully ask them to start looking for another place to live.  

I treat my tenants with the same respect that I would want.

Also, garbage can in the middle of the island and visible in your photos? 

With due respect, since loan docs are state-specific, be careful asking here which documents you should use.

Wow, @Ryan Dickerson I love your post because you seem to be on the right path.Figuring out your construction cost and building your team prior to entering into deals can alleviate a lot of stress during the project.Also, your respect and understanding of the value of a general contractor's time is impressive. 

With respect to the asset protection, purchase your real estate in an LLC in the state where you live or the state where the property is located.