Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Maintenance at at PM company or one of the big hedge owners like AH4R, leasing at apartment complex will teach you a lot about applications, fraud, leases, collections, evictions. 

From watching the market and myself investing in Bryan/College Station, people are still renting out these properties nicely.They can be leased as a whole or rented by the room and are usually in great areas, close to the university, grocery stores, and restaurants.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I have my personal emergency fund stored away in a HYSA, and am working to build up a15k property reserve as well, but am conflicted on where to keep that 15k. 

For this post, the long story short is that no cats were on the application but lo and behold, there are 4 cats in the house during my first inspection.

Quote from @Stephen Smith: You are correct, this can happen, however, if your application is full and complete this is an expectation.  

In addition to offering "cash for keys" assure them that they can use you as a referral on their next tenant application, or offer them a short term-2 month lease.

If you choose to play with fire, that is your perogative.For your reference, here is a good primer.Here is the key paragraph:Rental discrimination is when a landlord or property manager treats an applicant differently based on the applicant’s inclusion in a protected class.