Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

You can do this on your own but having help with PadSplit's software will take your game to the next level.

The logic here is that it’s far more difficult (and costlier) to evict a nonperforming tenant than it is to screen for a good one.Like @Greg Scott said, see if lowering your asking rent increases the number of applications you receive.

Sales agents typically don't have a lot of experience screening applications.

We use accounting software that codes the income and expenses to the property (called a class) so we can run P&L;s on each property with ease.Your accountant and bookkeeper will also thank you later for keeping it simple and avoid significant accounting costs. 

@Yixin Huang we use a property management software which keeps the communication centralized and updates them on status. 

However, this is not applicable to standard M1-2 zones.Zoning Map Amendments: If the property is not in an MX district, pursuing a zoning map amendment to rezone the area to a district that permits residential use is an option.

We had someone submit an application with a fake Visa and fake letter of employment that obviously looked real.

things missing in your list (everyone manages differently, so take it with a grain of salt)Vacancy rateTurn overbad debt legal fees (evictions as needed)accounting fees for professional tax prepmaintenanceProperty TaxesSales Tax on PM fees (In NM, this is charged, not sure about where you are)Reserves for replacement CAPEX - furnace, water heaters, ac, roof, parking lot, etc.Admin, software, advertising, etc.Cost segregation study for accelerated depreciation captureAs for your loan. 

Don't waste your time trying to explain or justify the applicant's behavior.