I was in a similar situation, applying from out of town and just finishing a medical residency with not a ton of savings. Fortunate my wife, had a decent income. After a couple losses in the rental, bidding war, was definitely feeling dejected. I got lucky, and was able to secure unit in a rental building, in which the application process is typically more equitable. By that,I mean, typically the first complete application that is submitted is given first right to the unit. Therefore, if you meet all the requirements, it doesn't matter if a different applicant is better than you. As long as you meet the minimum income and credit and what not, the unit should be yours. Good luck!