Maintain good credit habits and remove the negative1 - You want to get rid of collections or inquiries that will damage your credit score.

Just remember that you will eventually get by with something else but remember who is involved and how that will effect them?  

Here are the numbersARV 140kRepair Cost 60kPurchase Price 15k The previous rehab went over top of the lath and plaster with drywall so there was no damage to the structure.

Not only was the creative renovation cost effective but higher rents were achievable for more desirable office space.

And what I found from experience is that since these properties are so much alike the 1% rule is a very effective way to take a quick stab at evaluating if they will fit my cash flow goals. 

By law your tenant selection process should not be effected by these things. 

If the tenant fails to perform, the landlord can terminate the agreement and keep the deposit as damages and move on finding another tenantIf you accept a security deposit and /or execute a lease for a future date and the tenant fails to perform at move in, your only option is to evict as there is a lease in place.

Looking to the near and mid future I see interest rates going up which should have a negative effect on real estate prices, as investors that don't want to be in real estate can invest in something more liquid bonds etc.  

Can it effect the price?

You now have credit for unexpected expenses that you may not have the cash for such as roof damage, hvac replacement, leaks etc.