There was a post on the FB hyde park mom's group a few weeks ago about Madisonville, and there was a cornucopia of stories about moving to Madisonville to raise their kids and loving it there. 

With a 1mm dollar raise as you indicated these costs could easily be even more.

Consider an incentive (trade) rather than a straight up discount (giveaway), either offer a lower rent amount if they set up their rent payment on "auto pay", or offer a rebate if rent is paid on time for 12 months straight, month 13 rebate they earn can be a $600 BestBuy card for instance. 

It was up to him to collect rent prior to closing, or raise the price to compensate for that.

Now, with regard to your comment that 15y +25%dp isn't doable in your region...that would raise some alarms for me, just generally.

The problem I run into is most of my tenants are young, under 25, some are 19 so they might not have a credit/debit card so they can't pay online.

Note: this is NOT a post to try and raise money!

Other than that, yup the monthly payment will be factored into your DTI just like a car or credit card payment.

I don't have any savings and yes I have a job but I also have debt like a car loan, personal loan, student loans , and credit card debt so if I wanted to purchase this property what are my options?

I will put about $30,000 into it while raising the rents to market value.