Now, if you absolutely can't get a tenant where your unit is, who has a good credit score, so be it.But, when you start looking for reasons to rent to someone who doesn't actually meet your criteria - this should sound a screaming alarm, at least in your head. 

I got screamed at by a clerk at the local grocery store for bringing in my own bag - which I kept on my arm to simply put my bagged groceries into and I never put it on the conveyer belt.People are stressed and angry and scared. 

In my experience, this tenant will be someone (from personal real-life examples) will later ask you to put in an extra rod in the already huge walk-in closet because they'd rather have more rod on the wall than the extra space on the end most people like to store boxes in, or they will later ask you for room darkening curtains at your expense because the street lights are too bright, or they decide they want different flooring, or different wall paint or they want in-unit washer/dryers even if your plumbing can't take it in an old building...just on and on and frickin' on.Wishy washy applicants, for me, always, always, always, turned into high-maintenance pains in the rear.So, sure, if you're desperate to get the place rented, and you're willing to deal with whatever is going on with these people that means they need to see your unit again, and don't respect the fact that they're being a pain in the butt already.....then go ahead.But, I'm here to tell you that odds are screaming that these guys will be a PITA, and you will wish you waited to rent to someone else.  

I had one lady come into my office before we went appointment-only and scream at me that I was a horrible person and how evil capitalism was for America.

My worst most filthiest disgusting tenants who caused me the most aggravation & called me screaming and threatening started out complaining before they moved in with small stuff that didn’t need to get fixed. 

While there is a lot missing, even your market rents of $550 and $750 scream trouble.  

I didn't have the confidence yet, because I hadn't yet done enough homework to know the difference between a bad deal, a good deal, and a screaming deal.

The rush in development along Lyons Ave is for the purpose of erasing its extremely bloody history.2nd Ward is the most family friendly of the three.... because it is "policed" by your friendly neighborhood Banditos chapter whose families live there and (ironically?)

in a correction rents do stop they do go down and if your maxed out on debt you do risk the chance of failure in a syndicated deal. lets look at as you state all these folks that have never been through a correction.. and lets look at all the screaming deals that came up post 08.. most were debt related .. debt to high.. rents crashed.. lenders would not renew and or they could not find lenders to replace their current debt.Lets look at those that had massive equity or paid cash.. those rode it through no problem.. but the problem is you out there trying to compete with the syndicators of the world who have to show great returns.. to attract investor dollars how do you do that MAX leverage...

If one more person says "why don't you just put your cashflow toward the principal" I might scream.