You will be required to show a proof of funds if you do decide to make an offer otherwise your offer will be rejected.

The rejection letters we've received essentially say we're not active enough. 

I would suggest you educate a lot more before putting in any further offers.Hopefully this one gets rejected so you have time to learn the proper procedure.You definitely need to account for holding costs, closing costs and commissions when analyzing!

We have had 3 people apply for the unit. 1 had horrible credit so was rejected. 1 was nice but disappeared. 1 we offered to and they chose a different place for location. 

They mostly will get rejected but your offers should be higher than a non-owner occupant.

Thanks,  The applicant I was dealing with I just rejected due to sub 600 credit score. 

Because of the Fair Housing Act (and the fact that he meets your rental criteria), it could be considered discrimination if you rejected him due to concerns about his personal life.

It's my first mortgage on my rentals and I just dont want to waste time or money getting rejected.

It was rejected so I'm onto finding my  next deal!  

ØI also tried with my insurance as well to reimburse and you did not give the proof of leakage which is required by the insurance, so they rejected the claim.