DTI- How does a financed property and its expenses affect?

[Mio Chee]

DTI question (I am ESL. Please bare with me). Any input is greatly appreciated.

My husband and I purchased a rental in July 2021. After a rehab, new tenants moved in early September 2021. We are now preparing our taxes and I realized that this property is making our income for 2021 look very low due to the fact that we had way more expenses than income from this rental (we did not receive rents until October because my PM takes 100% of the first month rent and the rehab was kind of expensive). I was wondering how this will affect our ability to finance in the future when we are ready to buy another rental, let's say in 2023 or 2024 (I know most lenders look at 2 yr tax returns). Would most lenders take this into consideration and calculate our DTI ration based on our earned income and passive income from other rentals (and expenses)? I am planning to speak with my mortgage broker before we file our taxes, but wanted to learn as much as I can from experienced investors in this forum first. Our DTI before we bought this place is a little over 40%.