Interest is mort only, and taxes are income, not property taxes which are in COGS)Then I do depreciation, loan principle and interest, etc to get reportable income.

So he needs to be more ITM than  the 1.25:1 ratio.With that said, to answer the question-- figure out your debt or income.

I did find a CU that offers that product but they don't take into account the rental income from the other units.

He was happy to allow me to rent out nightly because it actually helps keep his property in better shape than a long term renter (having a cleaner in there every turnover, short stay guests always let you know when something isn't working, etc) but didn't want to hassle with worrying about a percentage of income/management, etc.

The landlord policy will usually address liability and rental income loss for the rented unit, while the HO3 covers your personal belongings and liability for the owner-occupied unit.

But we had four kids, a hubby who was a car guy and needed a shop or big garages, and a limited income.

We still owe roughly $900K on a 3% mortgage.We’re planning to retire abroad and are weighing two options:1.Sell the home – I already have a buyer lined up, so this would be a straightforward exit.2.Rent it out long-term (furnished) – While I don’t think the rent will fully cover the mortgage, it might come close.

The median income is low but the amount of renters is high.

@Zach Howardlet me know if i am missing something, but if the 200K loan is fully amortized over 5 years, then you'll have very large payments each month, and the property's income won't support it. 

Having lived there a year it is a foreign country and many things are different and culture etc plus you have the native peoples that own huge amounts of real estate and They dont pay income tax and they get food and gas for way cheaper etc etc..