If you expect  "the tenants to pay for the mortgage they may opt to not pay" and you lose the house and not getting the rent.

It will also be unlikely to get a 30yr loan and instead I can expect a 15 or 20yr loan.

Some people just expect the world from us and it’s all our fault.

The tenant had been there 30 years paying well below market rent and going into the deal I knew this would be a major project but I was not expecting it almost a year later. 

Rents were a little lower than expected, so I'm guessing it wouldn't be too good of a deal, especially if he's not really being forthcoming with the expense info.

The prospectus should speak to the opportunity and expected upside while addressing key risks that could jeopardize the "return on" as well as the "return of" capital.Most real estate investors will know how to "size" a deal and analyze a deal on their own, especially relatively similar investments like real estate. 

Once you have your renter criteria created, you could put it in your rental listing so that those who believe they are qualified are more likely to apply than those who don't match with your renter expectations.

Depends on the market and exit strategy.If you plan on selling it, then go with what your market expects AND will pay for.

I found with existing tenants they feel as though they have seniority since they have been there longer so just be straight up with them and set the expectations - You are the property owner. 

But I was thinking the same thing @David Ribardo, I hope Allentown is not expecting Landlords to just roll over and take the hit without it having an effect on their tenants.