You are better off looking in Tulum for many factors: 1.

The thing we have to remember is that interest rates are not the only factor here.  

My current job allows me to maintain a decent lifestyle and save, however I only have 3.5 yrs left on the contract.

In studying past auctions I can't seem to find any one particular factor that correlates highly with 3rd party winners (vs. bank taking it back).

@Edwin GachingaYes 7 of the 8 are positive cashflow according to my rental calculator which factors in capX, vacancies, property management, repairs.

Is there some places I should spend more of my time searching in vs. others because of this fact?  Or

. :)Property management companies might charge more if there is more maintenance, and you might need a super if the tenants are not used to cleaning up after themselvesIf you total all these up the 2% rule-of-thumb may not be the returns you're looking for, especially when you factor in the tenant headache you are dealing with.Last point: often if you buy a property for $30K you will likely be selling it for $30K in 10 years, so don't expect to necessarily get rich off the appreciation.With all that said don't let this stop you looking for property, because you MUST start somewhere - we all did. 

Max dti for automated approval through GUS is 47% housing ratio and a 57% back end ratio (and this is pretty much everyone, lenders don't manually underwrite unless there is an automated approval issue) - even then 31% and 43% are just placeholders, HUD allows 37% and 47% by meeting residual income requirements and no further compensating factors on R/E loans, and you can exceed 37% and 47% (most lenders will cap back end at 50%, but you can go to 57%) with strong compensating factors, such as assets.  

Well, all the costs to run a property is something you factor in before you even make an offer on the property.

Some criteria you should have a clear cut answer or might be as follows.Income to Rent Ratio - (Monthly Gross Income = 3xMonthly Rent)Credit Score - (600 or 650 or something like this)Credit History - no late payments within X number of monthsOther Debt - factor other debt into the above Income/Rent RatioReferences - how many and from who, and then contact them.To answer your question directly, I probably would not rent to this person.