If they want me or any other prospective buyer to move forward ----- go to step #1 first - get a contract of sale tentatively accepted first - all that other stuff will come later - So if a buyer does not have proof of funds - but does have a deposit (subject to financing) are you suggesting you turn down and ignore a suspect - who may become a prospect and perhaps a buyer away.That's my opinion - agents who act like this will never make the income that more flexible agents earn.

A jump in rates over the next couple years might squeeze cash flow for the current owner (by refinancing into a higher rate) or prospective buyer (making the deal less appealing). 

If the outside looks lower class than the renovated unit, prospects will just keep driving and you will get lots of no shows for you showing appointments.

How do you advertise that or explain it to prospective tenants?  

In my search for a recent small multi-family property over the summer, I used Zillow along with RMLS and Portland Maps, to prospect and perform Due diligence.

Even if you have a prospective deal and it's not something you'll likely pursue, reach out to them with the terms to see what they're offering.

What are the most important factors for prospective buyers (sf, # of bedrooms, garage, etc.)?  

Dealing with move out, unit rehab between tenants, and prospective tenants is a huge time, energy, and cost drain.Higher utilities cost.

I get right back to prospects, etc.

I also recently got my license, mostly to feed into what I am currently doing - not prospecting at this point.We want to get more into buy and hold but cold feet at this point.