Leases must be renewed under most circumstances. 

When done in the right circumstances I have never had a applicant reluctant to talk openly.

I do not know your circumstances, but if you are working full-time, it seems like it will take you some work without much return (presumably, keeping the 3% buyer's commission for yourself.) 

The very simple answer is yes you can reject any applicant based on bad feelings, smell, appearance as well as any other personal reason as long as you never, under any circumstances, inform them as to why you rejected them. 

I know these Zillow estimated numbers will be different but if there isn’t any major unforeseen expenses, would moving in on a deal like this and renting out for around 900-950 a month?

Any unforeseen  pitfalls that we should be aware of?? 

The LTB under most circumstances will not support tenants having to pay landlords legal fees.

I believe that consideration of individual circumstances could undoubtedly sway the order of the list.

The 3/2 is common and makes sense for a lot of areas, but that is a rule of thumb and can't be counted on everywhere so you have to factor in the specific circumstances you are dealing with.

My engineering background has given me the experience to analyze and calculate situational circumstances, in which I believe will aid me a great deal in the world of real estate.My background in real estate is first and foremost, being a homeowner.