They are meant to be just snug, as over tightening could cause porcelain to crack.

Not to mention the serious strain it puts on your savings rate.

Yes, there are mortgage limits. 10 is usually max, but the requirements to qualify tighten a little after 4.

I could handle a couple of months (their deposit + personal savings), but any longer and it would be a real strain.

FL tightened the statutes, I am sure due to the number of scammers victimizing sellers.

I would agree with the above as there are lenders who do not know Fannie/Freddie requirements or have overlays that tighten their requirements above and beyond Fannie/Freddie. 

We ended up under contract and during the inspection negotiations the buyer requested a bunch of silly things to do that I didn't want to pay for, some were a few knobs we tightened with a screw driver.

The actual amount is dependent on the type of tenant...if they are lower, or fixed income, they obviously cannot afford a big hit, but if they are a typical dual income household, they just tighten their belt a little.

Like the rest of the country it is tightening up but there are still foreclosure sales available.

Less of a headache and financial strain of having the carrying cost.