I agree with all of the above. Great post by David.
When looking at credit reports we specifically look at why it is bad. If the score is low due to a tremendous amount of medical bills we over look that. However, if they haven't paid their utilities (phone, electric, etc.) then we question them. I'm sure you already do this.
Like David said, once you promote no credit checks it will be harder to keep the value of the property up. Remember that the reputation of the property is also at stake here.
Make sure the marketing is reaching the effective target audience that you desire. Think about who it is that you want renting at your property. Speak to them in your marketing. Speak their language. Use emotional trigger words that they can relate to. Maybe instead of no credit checks ~ flexible options for poor credit. Where you can negotiate co-signer, etc.
A property near us doesn't do credit checks & if the rent isn't paid by the 7th of the month, the property switches the locks on the resident and starts the eviction process. They tell their tenants that at the lease signing. I have seen a lot of peoples stuff get thrown away by this process. The property is usually at full occupancy however, isn't known as a reputable neighborhood in town.
Hope these thoughts/ideas help you. Best of luck to you!