This doesn't mean you cant reject an applicant for other reasons you typically would such as income, poor credit, or criminal background. 

I wouldn't have to wait longer to prove my income on something that price.However, I'm wondering if it's a good investment or, like someone told me, "if house prices are that low, you'll likely be in a poor area and not have great tenants."

First, is poor management.

It's been a little bit, but he's a solid guy who knows the markets and is local and can get you the right $ product. 

My poor husband lost 40k because of him. 

This is maintained by the specific attorney’s office for the specific foreclosures they are performing.Although very profitable, Foreclosures are a poor choice for wholesaling, unless you have substantial capital.

The deal was poorly marketed.

I would find all of the places in my area that posted apartment listings and literally put my listing there and pay for any advertising product that was available to push my listing to the front. 

(high five) I work from home in the Tech industry as a software Product Manager. 

But there are products that go all the way down to .75+ ratio and even no ratio.