After everything was fixed and they listed the unit, apparently they claimed that I was not allowed to have any understanding of who would be renting my home due to potential bias and discrimination (this is the first time I have not been able to view applicants general profile (credit score/occupation(removing any identity markers)), but fine, I let them choose the tenant and so far there hasn't been any issues.

I wouldn't necessarily say you would need to increase the rent, unless the lease is already coming up on renewal and is due for an increase anyway.If you have a general application, have the incoming tenant just submit an application that way you can still ensure that they meet the criteria whether it be credit, background,etc... 

Obviously this would be determined at the beginning application/lease stage. 

Subject to the requirements of the Bankruptcy Code, in the event the Tenant is adjudicated as bankrupt, (or makes an assignment for the benefit of creditors), this Lease, at the option of the Landlord, shall terminate upon 30 days written notice and the Dwelling Unit shall be surrendered to the Landlord, who reserves the right to repossess the Dwelling Unit subject to the applicable provisions of law.Should I follow the steps on the contract?

By signing below, applicant(s) give permission to (1) current and former employers to release any information about applicants’ employment history and income history to the above named person;(2) current and former landlords to release any information about applicants’ rental history to the above named person; (3) current and former mortgage lenders on property that applicants’ own or have owned to release any information about mortgage payment history to the above named person; (4) bank, savings and loan, or credit union to provide a verification of funds that applicants’ have on deposit to the above named person, and (5) to the above named person to obtain a copy of applicants’ consumer report (credit report) from any consumer reporting agency and to obtain criminal background information about applicants.

one applicant emailed me his EIN number document from IRS !!

Do you think applicants would be willing to share the kitchen with 3 others? 

I have an application for new insurance, but I don't know what best practice is for covering a multifamily brownstone in Brooklyn.

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.

My market is small and the town the store business is in is only 300 people, but I am still finding plenty of opportunities for rentals.I should have been clearer.