All the replies above are based on ASSUMPTIONS about the condition of the plumbing.Is the plumbing able to handle the “standard” amount of toilet paper being flushed and the tenants are just “loading it up” before flushing thereby causing the problem?  

Getting them to pony up even when they are at fault is impossible.2) This condition existed when you purchased.

You know you already have or can find a buyer for this very same property in it's very same condition for $150,000.

Do market conditions, taxes, or potential rental income play a big role for you?

I would explain to them that for the unit in the condition it is in now that the rent is still below market rate. 2.

And, if you are buying a property that is already in good condition, or is fairly easily to rehab, you’re probably right.  

I am unsure of the circumstances, price, owner interaction, condition, but in the current market it is taking about 2 months from vacancy to move in.

If some applicants fall below your requirements, then everyone would be considered "conditional," you can raise the security deposit to mitigate your risk of someone breaking up or defaulting. 

I take a look at the comps from the past 3 months and compare each property's finishes, livable sqft, condition of backyard, type of flooring, type of cabinets, etc.

MLS - it was overpriced for the condition it was in.