Definitely screen tenants as well as possible (for the brief time I did this myself I used BP's recommended software from Homeunion I think??)

That way, when you fill out the Personal Financial Statement that goes along with every mortgage or loan application you do, you aren't lying by not listing it and it no longer counts against your personal debt ratio.  

Appraisals, Approvals, Applications (the APPS triplets), and more.  

@Garrett Pyros, what kind of software do you use for calculations?

If you provide a nice clean rental at a fair price you should get several good applicants.

I work as a software engineer full time.  

If I submit an application to the state to acquire the property can the sale be voided by the heirs if they choose to redeem the property?

The high expense ratio are caused by many things including higher than usual property management fee, deferred maintenance , high water bills due to leaks, inefficient monthly advertising cost, inefficient property management software, neglected yearly service contracts, higher than usual insurance cost etc.

@Dede Christensen does your lease have an application of funds clause that specifies that funds received from the tenant will be applied in chronological order to the oldest outstanding charges on their tenant ledger?  

Having said that , 3 bed, I bath, single mother, student......I would not rent to this applicant.