My definition of a good tenant:Has stable employment in a market segment that is very likely to be stable or improve over time.Pays all the rent on scheduleTakes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for many yearsMy number one concern was tenants that would stay employed even during a downturn.

Stable cash-flowing duplex located less than 10 minutes from Downtown where there are multiple big employers and a large Private University.

Background: military stable income, $120K in cash, $4K saved a month, no debt. 

Industries - are they stable.

If I don't get the scholarships and grants at this time that I do now, then I may have to look into getting student loans to cover about half of tuition to minimize debt after college and damage to my nest egg.Assuming I'll still have a roommate at this time, I should make enough to cover rent with my current job at the college (which is minimum wage and limited to 20hr work weeks), but it will decimate my free cash flow for sure.Since I graduate this year, I will also be applying to potential employers to secure a stable career if I haven't found employment already.

Basically what Im wanting to do is avoid refinancing because my employment status is a bit sticky but I begin a very stable career in January.

I know the stuff is perfectly stable if left untouched, and if you want to remove it you better do it right...so that said, I'm thinking that IF it is asbestos, I'll leave it in place and carpet over the top of it. 

I am looking in this area specifically since i'll be living there, and i'm just hoping that the area is stable and will hopefully only increase.

Are the rents increasing, stable or decreasing? 

This single characteristic drastically effects the frequency of turnover and favors MHP as a more stable cash flow asset, which becomes particularly attractive during a recession.