The also tend and screen all my leads until they qualify financially and show proper motivation to be a good candidate for one of my buying / exit strategies.  

Honestly, (despite what the gurus may say) I don't think the lender gives any consideration to what they will net in foreclosure vs short sale as a factor in approving a short sale.There are two parts to the banks approval process: (in a nut-shell)1) Is there a financial hardship or required relocation?

@Craig C.While I am sure I will forget something, I tend to subconsciously look for the following when looking at a new area.

When real estate is hot and in a sellers markets, profit margins tend to get compressed.

It is only one tool in one's toolbox and it is best used for specific deals.HM tends to make the most sense on deals where conventional lenders will take too long or the condition of the property prevents conventional financing.

I'm looking for anything that would make me use a higher number, not lower.I actually tend to look at cash-on-cash based on the assumed outlays including closing costs.

People tend to spend the same % of their money on a house within a metro over time, so housing prices are set by a) interest rates and b) the economy.

While inspections can be difficult with job scheduling, they do tend to keep the trades honest by ensuring that at least a minimal standard of care (and safety) goes into repairing / rehabbing. 

I think I have good longevity but I don't seek applicants who say they're going to stay for a long time -- those tend to be the tenants that leave the soonest, in my experience.

Most national Tenants have multiple contacts for various things i.e. leasing, accounting, legal, etc. and the mom&pop type Tenants tend to be one point of contact.