I was floored how some people live initially but I’ve grown to just accept slob mentality.

SO keeping the debt to income ratio at an acceptable level can be challenging.

What can you do to minimize those risk and how much risk are you just willing to accept? 

Personal checks for security deposit aren’t a good idea, so I would recommend not accepting them as a payment method on move in.

The recipient of a qualified demand request has seven days by federal law or shorter, if any state law is shorter, to return the demand to the requestor.If funds are insufficient, they won't be accepted and will be returned to the sender (Assuming funds are sent).

Wholesaling draws me because it gives me a chance, while I’m young, to put my skills and work ethic to the test and get into the real estate world.

I have done many 1031's and my tax guys always tell me this quote ^^^ is what determines the 'sniff test'.

Honestly, tracking costs in excel (or even on paper, if your accountant will accept it) is easier than it sounds. 

If it got accepted I would probably be terrified.

My local craigslist is loaded with apartments for rent that indicate we do not accept section 8 tenants.....