@Scott Ryan one way to reduce risk is require a double deposit and/ or a rent guaranty policy via LEAP or some other insurance program.
The available options depend on your state, and type of property you're leasing as well.
If I'm in a place where it's challenging to get non payers out then I just wait for the best candidate.
If it's relatively straightforward to evict for non-payment then I use the double deposit / insurance policy route for people who score low on our rubric.
Take a look at your application standards and what they say. To avoid a fair housing violation you must treat EVERY applicant the same. They must be screened using the same WRITTEN DOWN standards. You better not deny one tenant because of their low credit score and then accept another with a score below your standards. That’s NOT good.
I’d recommend checking whether they have any past judgments. Many screening reports don’t include that search, and judgments & liens no longer appear on credit reports. I’ve seen applicants with clean backgrounds and only a lower credit score, only to later find out there were judgments from a previous landlord that wouldn’t have shown up on a standard report.