Since they are new tenants and likely not screened properly you want to be able to easily get rid of them if they do not work out.

Of course, you will have underwritten the deal at sufficiently conservative financing rate - like the BoC posted 5-yr, fixed-rate reference - that the business easily throws off cash at the actual financing rate.If you are disciplined enough to apply the "cash-back" directly to the mortgage principal as a pre-payment (some lenders will {strongly} encourage this approach) it is a good thing ... if you use the cash-back on a rental property financing to pay-down the principal on your primary residence (where mortgage interest cannot be deducted as a business expense) you may warrant extra kudos.If you are certain you can re-invest the cash-back and earn a higher {net} return than paying down your mortgage financing {particularly that on your personal residence which is paid with after tax income}, the cash-back can be a good thing.  

Tell them during the showing that once they passed the application filter, you will send them to a 3rd party background check company. 

We just set up an LLC at the advice of my accountant so that our profits (and losses) are handled in one place, receive tax benefits, and come tax season, everyone can easily handle their share of income tax based on our (unequal) division of shares in the property (it's not split 3 ways).

For instance, you may learn from a tenant that the building blows fuses easily in which case you probably want an electrician to see what's going on (old wiring not able to keep up with modern demands?)

If they could easily raise capital, then they wouldn't need to pay these broker-dealers.

He had in fact not started the work, so it was easily rejected.  

That's why places have to cash flow enough to be a long term deal.My Dad's favorite saying was - Isn't it funny that the lucky people also happen to be the hardest working- he was an advocate that you make your own breaks through hard work and preparation so there is a pay off that comes from it and other people look at it later and think it came easily-LOL

Could he easily secure a lien on the property until it's sold?

Just so you know - you can leave/switch brokerages pretty easily so don't worry if you make a choice and then decided to go a different route too.