Communicate with them about anything that effects them.

I've got a fairly large emergency fund to cover mtg/tax/ins payments in case of mass vacancies or no rent.

With a good paying job you should be able to qualify for financing fairly easily.

I wrote about an example for BP of a fairly common type of miscommunication and how asset protection kept my client out of court.

So long as you don't violate a fair housing law you are fine to decline anyone for any reason at anytime.

I disagree with your theory in a market with higher prices and desirability other investors are willing to accept a lower return because they are fairly sure the market won't collapse out from under them. 

Your intention would be from the communication that you had when you bought the property, or your communication with your contractor, or documented in your overall business plan or LLC operating agreements and stuff. 

Since this was an "arm's length" deal and the owner was experiencing some financial issues of his own, I add value to the deal by keeping continuous open communication and essentially, giving him some earnest money to help him through the process.

In a similar vein, more communication.

There are 4 bedrooms(including the 1bed apartment upstairs) with each renting for $375-400/mo She owns the house free and clear, and I'm trying to figure out the best way to go about giving her a fair deal that gives both of us the best outcome.