My suggestion is trying to get the owner to do a short sale....same seller qualifications for the bank dong a DIL.  

WHAT YOU OFFER , TERMS , QUALIFICATIONS (etc) Build a Sphere of influence SPECIFICALLY FOR your LEASE OPTION.YOU WILL NEED TO INCLUDE A FEW.PRIVATE MONEY LENDERS.TENANTSCASH INVESTORSFOR SALE BY OWNERSEXPIRED LISTINGSCREDIT REPAIR/CONSOLIDATION CO.PROPERTY MANAGEMENT COI HAVE A PROGRAM HERE IN VEGAS THAT WORKS GREAT, I CAN SHARE SOME IDEA's WITH YOU.....PRIVATE MESSAGE LET'S TALK....

Is  mortgage payment of the primary house count against wife's income in calculating qualification of loan on the rental? 

There are different loan options, pre qualifications, etc.

But You might run into idiots that will remove your hole door knob and squat in home or damage the property or steal all appliances or copper theft.I initially screen my callers, then send more photo's, if they are interested in seeing it , I give them great virtual tour link of photo's deposit information and then have them go online and pre-qualification questionnaire.No $ or Obligation just to answer a few basics ABOUT RENTAL HISTORY/INCOME/EVICTION/BK/FORECLOSURE.

Whatever process you decide will lead you to the "best" candidate should be put in writing so you can't be accused of discrimination later.You are not required by law to process them in the order they are received and then take the first qualified applicant (meaning the first applicant who meets your minimum qualifications).

Same dollars to buy them... same type of qualifications to get into the bizz IE none.And total Caveat Emptor for both the buyer thinking they are going to get rich owning some low end rental and or the seller who just got smoked by a wholesaler that is not licensed or looking out for the sellers interest in any appreciable way...At the end of the day those with License's and those that want to keep them are held to a higher standard...

We used a Realtor we found here on BP, and used a family member title agent to get referrals out for Realtor, lender, etc. for the other property.The contract to buy, the mortgage qualification and paperwork, plus the closings can be done electronically, using the base legal office for notary work; it would be great to have someone you know and trust to help you with finding investment properties, doing the inspections and such.

You'll usually find folks defend what they do as they have a vested interest, they may be involved in this subject matter, it might be simply to save face or promote business practices, consider where motivations are from.As to KMP comment on Grant's RMLO experience/qualification.

For the OP's question, providing more detail in an application process is helpful in the qualification process so it was good advice on that end even though many landlords might not require that amount of detail.I don't visit my properties daily and many on here would say that is a waste of valuable resources.