We will be a dual income household in January - She just got out of school.

- A 6-plex apartment complex with a ~500k price- For rental purposes, I would not occupy- This is my first home-buying ever ( I rent myself)- My credit is Excellent (750+) and salary is 100k+ range (household 200k+)- I can put in 10-15% downThanks for the help.

Lending guidelines say 43% debt to income ratio, so if no other debt, a factory working household can spend $2200 a month on a house. 

You will meet with each household and introduce them to your management style and written rental agreement.

Also note: My credit is steadily going up, I will be at a 700 in no time, I don't have much of a savings, but I do make small deposits bi weekly to keep a trail that I CAN save, and no huge debt ( just a small secured CC ) aside from normal household expenses/bills.

Sorry if this comes off as blunt, but...I wouldn't get into this type of situation with a family member, unless you're willing to risk the peace in your household. 

Demographics are at least 50K town population; less than 17% poverty; median family household income 35K+; Geographic region: TEXAS, OKLAHOMA, KANSAS, MISSOURI, TENNESSEE, ALABAMA, GEORGIA, NORTH CAROLINA, SOUTH CAROLINA, FLORIDA.

Such as the avg persons per household. 1/1s can be profitable as well, but you have to make sure the demographic matches up to the unit mix for that area.

For income, you can consider the 3x of the rental rate “household” income and consider both tenants together, but I wouldn’t use this as justification to abbreviate your application process.

Usually at that price point you are going to be dealing with low income households and will have issues with collecting rent.