Our criteria: Gross income (for the household) of at least 3x monthly rent - verified by 3 most recent paystubs.

Almost 60% of the new housing development will be rentals and 62% of the growth will be in southern states, are just some of the projections of this report.New household development in the next 10 years will double the development in the last 10 years.

Your father's guidance is excellent for owner occupants, specifically scenarios where the family has decided that monthly household net worth gains are the priority, and/or the family is 100% certain they will would pay a bunch extra each month even if they did a 30 year. 

They're all big household name banks that use extremely cheap money to pursue tax liens.

City has 73 police officers Median Household Income: $81,000Median Home Price $345,000 (2013)Average Unit Price DuPlex/TriPlex: $222,205 (ouch that's high)Median Gross Rent: $1,136 (from City-data.com).Average Rents:  $900 for 1 bed, 1 bath; $1200 for 2 bed 1 bath; $1350 for 2 bed, 2 bath (based on postings on Craigslist & Trulia)Median Real Estate Taxes: $5,650 (1.8%)Unemployment: 3.6% (Sept. 2015, trending downward)New Construction: 76 permits issues in 2014, average cost $402,300 (steady increase in permits over last 5 years)3 Starbucks in town (more in immediate surrounding areas)4 large hospitals in town

Since I buy the house + holding costs, and he funds the rehabs and oversees it, it's almost a 60/40 risk prospective. 

The loan at $132k with 6% down to 10 years would require the household income to be around $5,234 per month.  

Some last about 30 years during regular household usage- so it's "screw it in and forget it."

.$18,000 for heads of households.$12,000 for singles.This seemingly benign change can adversely affect vacation-home owners, because their allowable itemized deductions (including those for vacation home mortgage interest and property taxes) may not exceed their standard deduction amount for 2018-2025.

You are smart to step in to help advise but that is the best you can do unless you both are contributing to your household expenses and the difference she has to pay towards the condo will create shortage in your household.