You have a great credit score. 

Great Lakes Credit Union HSBC 70%, for premier clients only Huntington 75% LTV Hurst Lending and Insurance Investment property HELOC in Texas.

Quote from @Raymond Kalonji: In your opinion, what would be a reasonable minimum credit score?

If the income requirements are met, credit looks good, and employment history ( at least 6 months +) at the same job, move forward with the applicant and request additional deposit.That's an old eviction IMO.I have a current tenant that I leased to with low 500 credit.

It will likely still continue being a difficulty.You mentioned bills, are they credit card bills?

Applicant 1 has 509 credit score.

You are still going to get the best rate possible with your significant down payment and with good credit I'm assuming.   

More on DSCR loans in case helpful: DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

@Apryl Skahill To get your risk-averse spouse on board with real estate investing, start by educating him with beginner-friendly resources that highlight the long-term stability, cash flow potential, and tax benefits of real estate, such as depreciation deductions and offsetting W-2 income.

Maybe that is why the old owner didn't pay their taxes?