Is this still applicable in Denver to your knowledge?  

We have applicants who seem like the perfect tenants but can't move in for two months, or another applicant who is only grade B- (based solely on income, otherwise they check out fine) who can move in right away.

Depending on the school district and which side of Macon your house is on, your applicants will be a mixed bag.

We have been very strict adhering to a minimum of a 640 credit score for applicant and 3 months rent in gross income but we are struggling to get tenants for our properties.

As such, it makes it clear that its application is broad, providing that "[a]ny single act transaction or sale shall constitute engaging in business within the meaning of this article.So yes you need to be a real estate broker to manage property in New Jersey. 

Affluent applicants from out of state will not be interested.

Some of the big banks(such as Wells Fargo, CNB, National Penn to list a few ) are offering business LOC with minimum 2 years for some 5 years for others (varies by bank) in business requirement along with positive FICO & D&B records among the usual application requested data.  

Whether it is application or loan origination they all ask.

If it isn't metered we have to keep it in our name and market it at a higher price with water included.If they are separately metered, we advertise it at the lower price then give the applicant the option of adding water to rent for the average amount or to provide a higher deposit to help offset the unpaid amounts we get stuck with.

That will tell you much more than any application will.