Where do you draw the line, and can you then charge a higher rent to cover the costs over the year of the lease, or are you just have to eat those costs?

So you agreed on the work, the guy has bought the materials, and now you're firing him because a late offer undercut his bid after you had made an agreement.Now you want him to eat his expense and use the materials in another job or jobs.

Net result, I have to eat the higher than average turnover.

Eating up all my funds. 

New Jersey also requires anything 3 units or more to have a multiple dwelling certificate, aka "Green Card"  

Anything other than green is automatically disqualified (for my criteria).

If the property is due for renovations or major repairs soon, then you may need to budget higher expenses, which will likely eat up your profits.

Besides, these hotels have the kitchen so you're not eating out three times per day while looking for work.

@Julie Greene I have had scrappers dismantle something (toy) in my trash before and leave behind what they don't want. 

Nor do I expect that everyone is sending the same letter.When you go out to eat, you don't go to the same restaurant or order the same meal off the menu every time, do you?