When investing in real estate in general, and multifamily in particular, selecting the right market is critical.

I'm sitting down with a selected tenant to go through the lease with them later today.

Agree with Adam that you shouldn't let the tenant select the subtenant.

I email prospective tenants a tenant selection criteria that they must read and sign prior to them seeing the property. 

You're absolutely right that things could get worse... but with that said it just means that you need to be more selective on the properties you pick up.

Interview each one and select who is best.

The buyer using subject to can’t focus on select properties and be choosy, he’ll basically have to deal with the 3% of the for sale market that might be receptive to this sought of transaction.

(personal opinion).Just think about one simple logic someone is paying for your property.You can buy new single family and exit once they are finished with that community and you will still make some margin if you select the right location.i have seen that in Missouri City and Sugarland area.Buy newer homes so you don't have to worry much about repairs and btw repairs are cheaper than some other markets if you get the right people.

Otherwise, start the process about 90 days before your lease expires, but make certain you have your REALTOR and lender already selected and ready to go.

This doesn't always happen and some general contractors save costs for themselves by hiring less than qualified specialists to do the work.What you get by hiring tradesmen directly is the ability to select someone with a skill level you want to actually do the work.