Ensure 90% of tenants meet preferred criteria.Target Audience:Ideal tenants are clean, responsible, and sociable single professionals, students (with co-signers), and military personnel.

I personally prefer to not be over leveraged but I have at least some type of leverage on every property.

You do win in either scenario so it really is a preference.

Given we went from residential to commercial, we prefer to buy in an LLC, it's even required we use a Trust or LLC per the lender. 

However, if you can manage to find the very few who either don't want to be an investment owner or would prefer to upgrade their capital into something more profitable for their stage of life, launch on it.

I suspect an Bk attorney would advise you that you don't qualify for a BK.I suggest you consult with a very good real property attorney, preferably one who practices in the area the property, or better yet the foreclosure Trustee is located. 

Also, they prefer an uncertain big payoff to a certain but lower payoff - even when they on average earn more per hour if they just charge for their time.

Probably personal preference, but if anyone has a strong opinion, I'd love to hear it! 

My target purchase price is under $1.7M and prefer cosmetic fix to start with.

Pay close attention to the capital stack, how much debt there is, how much preferred equity there is, how much the GP is co-investing, how much they project rents to rise organically every year, what exit cap rate they're assuming, how much cash reserves the property/investment will have, how much does the deal returns change when you add 50-200 bps to the cap rate, what is your breakeven occupancy and exit cap rate, and a bunch more.