If they do, you bear 100% risk where it should be shared.

Otherwise, you run the risk of being house poor and its no fun.

As for the tenant, i agree with placing the most qualified, the thought of Military was because of the guaranteed pay with a qualified tenant would be a bit easier since there really isn't the risk of god forbid job loss or other reasons to not pay.

These circuit breakers are significant fire risks and should be replaced ASAP.

Assume that buyer has little risk of not able to pay the balloon sum. 

It is your property, you have invested a great deal of money, why would anyone risk it all by not choosing the best.It's your business.

The rate will have the risk factored in but as long as the deal works with it.However I am unfamiliar with lenders in that area of the country.

To answer your question,1) let me know if this is what you were trying to achieve.The easiest and simplest way to do this is:  - have each property(or few more depending on your risk threshold and situation such as different LLC for different State) under one LLC and have a rental contract for houses under the same LLC, keep a separate bank account and book for this LLC. and repeat the same with other LLCs. 

Lending assumes risk and possible loss.

At the risk of showing myself to be the noob that I am, I cannot for the life of me find the way to watch old webinars, only the area to register for upcoming ones.