Thanks for the advice, and best of luck with the B-school applications!   

I determine that risk during the application process using a score sheet that assesses employment, credit, and rental history.

Less applicable for flipping, but again, dont worry about setting up and LLC.

I am working on a score sheet that automatically gives a tenant a score and pass/ fail mark depending on each property's minimum qualification standards by simply entering information found on a application background check. 

They can reject your application for renewal and there's no reason.

I do use Buildium to do applications, background checks, rent collection, tracking ect.

If credit history cannot be verified due to lack of credit or if credit score below 670, you may qualify with additional deposit up to 100% of security depositNo prior evictions, suitable past rent history and positive landlord referenceWe perform a credit check, criminal background check, employment verification and rental history verification on every applicant* This list and any information on this page is provided for informational purposes only, please refer to the latest application for the most up-to-date rulesApplication Process: Call *** for pre-qualification and to schedule a showingEach applicant 18+ years old must submit a separate application$45 for each application (paid online at submission of online application)To apply, click "Apply Now" on the desired property pageThe entire application must be completely filled out or the application may be rejectedApproved applicants will be notified by phoneHolding Deposit must be paid within 24 hours of approval to hold the unit.

Lots of applicants say that.

You'd be starting fresh with your own hand-chosen applicants as tenants. 

On a typical rental, I'll get a 100 inquiries and two applications.