Unfortunately, we have had to apply this across the board even if tenants have been late numerous times in the past.

If the community is stable or has a lot of rehabs it wont scare me away or attract me unless I see a good school, hospital, and/or large company within 10 miles of the property. 

Is the property in an area that will continue to attract tenants, or is it a miracle each time you find a tenant?

Desirability of the area for renters (access to major roadways, attractions, shopping, nice neighborhoods)2.

If you are looking at upscale housing, I imagine that your down payment and mortgage will be higher--are there areas nearby with lower prices that would attract the type of tenant you're describing?

 Cheesecake Factory is probably trading at attractive prices now, I imagine. 

That being said, prices can be attractive.

I was hoping with all the attractions and new additions that the area would being appreciating--but that did not pan out. 

What are some of the "anchor" industries/businesses that attract folks to the Chattanooga area?

I live in New Jersey and have been very attracted to the Dayton OH market lately.