If you go full doc the rate can be lower but you need to show 2 years of income where your debt to income ratio makes financial sense. 

I plan on buying a SFR in Dallas Fort Worth area for about 220K.

There is nothing wrong with your plan. 10 years ago, I inadvertly did it as I bought a home lost my job and move away within 4 months.

Consult with a mortgage broker or lender to determine the best financing solution for your investment goals and financial situation.Property selection: Look for properties that have the potential for value-add improvements, such as cosmetic upgrades, energy-efficient upgrades, or additional amenities.

I file jointly and we are able to put enough of our income into a retirement plan that we can be below 89,000 in income (including rental income).

With The Solo 401(k) pre-tax and Roth are included in the same plan.  

Asking 240k for the property, but plan to up the asking price to 250k if/when they put it on the market this summer.

Our financial support demonstrated our commitment to providing the necessary resources for successful real estate investments.

The financials of the property along with the applicants credit and investment history will play a role in the pricing of the loan and loan to value limits. 

My plan was to take few trips back to Virginia, try to network and prepare my plan before leaving Dubai and going back for good.