The other limiting factor is that we have two children and child care is not cheap.

.- number of units (in the case of MF)- location of real estateThe investor has to decide what mix is optimal for their situation.If Series-LLC is an option for you, get one and put each property in its own child Series-LLC, problem solved.

@Trevor Finton the one thing I did not add  in relation to the Series LLC is to really know your states LLC Internal Liability Shields and judgment orders, and then how those relate to the individual child series of the Series LLC.

Or they have an adult child just out of prison for cooking meth, but with a job promised with adequate income, do you take him? 

For example, a single mother with a child that is asking about the safety of the building, who all would have a key, assigned parking, is there pest control provided would indicate to me this person is not concerned about getting approved or being able to pay the rent but rather what type of community is it for her and her child.

He had arrived the week before, was living in a hotel, and wanted to get into a place asap before wife and child arrived.

Which doctor are you going to take your child to? 

have you looked at the Watchdog child molestors map?  

The home owner has an oustanding mortgage as well as several child support judgments listed on the report.

I work with many clients and the general flow can look like:LLC > Land Trust > property / propertiesSeries LLC > Agent Trust > "child" series (A / B / C / etc.)