Has anyone denied an application that they've already approved? Basically, reversing the approval. I have an applicant that I should have out-front denied based on income, but I approved them and tried justifying it in my head. The applicant is two people who alone don't make 3x rent, but together are fine. However, one of them said they won't move in for 5 months but will sign the lease now, even though they're still renting another place during that time. They also don't have all move-in funds available until the 18th. They do have funds for a Deposit to Hold though.
A couple hours after I approved their application, another person that actually does qualify and has all funds available now applied. This applicant would be the clear winner between the two (better income/jobs, better credit, overall more professional). Aside from just looking like an idiot, is there any reason I can't just reverse my approval on applicant #1? Nothing has been signed and no funds have been exchanged (aside from credit report costs to TransUnion, which I'll probably refund). The decision would be based on the income situation, so I'm not worried about violating fair housing laws.
Lesson learned... I still need to learn to control my emotions better.