So accepting and approving multiple applicants is the norm?

Are you not necessarily denying him based on screening criteria - Some landlords make it a requirement to view the property prior to letting the applicant apply.

The only example I can think of is that I asked an applicant questions about their credit report.

All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.

My application includes an acknowledgment that everything is true and complete.

Navigating the Surge in Rental Application Fraud: A Guide for Landlords and Property ManagersIn recent years, the rental market has experienced a troubling rise in application fraud.

Piling on...all occupants who are 18 or older (or legal emancipated minor) should absolutely be required to make application. 

Here's a detailed guide on how to screen applicants: Application Screening Guide 

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?