In some areas of the country, waiting list for voucher applicants exceed three years.How to proceed- Since it sound like you have experience with HUD, you are probably aware that each unit and the property as a whole needs to be inspected prior to a tenant be able to rent.

You look at all factors that you believe pertain to your specific property, do you have other tenants, is it a quiet building, do your tenants work nite shifts, will young families with children be a good fit etc. etc.I know someone is going to jump in with the usual "fair housing" cry but you need to consider whether the applicant will fit with other tenants or if they may destroy your property etc. 

I do know that general terms and language in notes and deeds of trust contain provisions for acceleration of the debt, unless it is prohibited by applicable law.  

We're also beginning to see more older, 65+ applicants who are being forced to cut expenses to live comfortably.

The current tenant has been in there for 3 years and is always right at the last day of the grace period with her payment, she struggles to make the current payment of $1750 and is probably at her max.I know she will say she wants to stay and will agree to an increase but I doubt she can afford it.I'd like to treat her like a prospective tenant and require a new application to have a better look at her finances.

If they wanted to put in an application, I gave my email out to the people at the open house only.

Every time I fill out a loan application they say the numbers don't make sense and that there's no profit for me.

@Jd Martin Hi, I take Section 8 all day, but also accept the need to do heavy, consistent screening of all applicants. 

There are some Canadian banks that have US subsidiary banks or branches (TD, RBC, BMO) where Canadians can get residential mortgages but usually there are substantial restrictions such as only servicing specific areas of the US, having to own the property in your own name rather than a company name, only applicable for 2nd homes (rather than regular rentals), not applicable for multifamily properties, etc..

You can get some great deals by completing the tax deed application on tax lien certificates obtained by the county.