Unless there is another reason that you wouldn't rent to them (ie; bad credit, poor references, smoking, etc) and you can PROVE that is why they were denied, then you have to consider them as prospective tenants.

Obviously everyone is going to be partial to their city, I don't think anyone can deny that since most of the Houston oil people are working abroad that this is probably one of the hottest real estate markets currently. 

I keep that stuff for years.And just for the record, females are only harder on the property if they've got kids or let their abusive boyfriends move in (had my lessons there).

I don't believe the Seller would deny signing an extension, after all they want to close as agreed.  

And of course, the insurance company denied the claim because it was related to illegal activities.  

The credit will be reflected on your closing statement.If your application is denied or withdrawn, for any reason, we will refund your deposit minus the actual cost of your appraisal and credit report"

If the auction buyer is within that time of redemption right then the senior can not deny the payoff.  

You will want this setup if you get a tenant that abuses the shared component.

Account Closed prior to it being highly suspect and illegal here on the West coast IE equity skimming laws I did quite a bit of pre foreclosure rent back work... the deals were almost always made the day before the sale... and it was a mad scramble to get a cashiers check to the trustee.. we would hire couriers to hand deliver.. those in denial waited until they just could not deny anymore.. if we got one two days before that was a luxury. 

I'd hate to see you install all this super nice stuff only to be abused by an apathetic tenant.