There is a high percentage chance that those closing costs are actually going to buy down their interest rate.

Is removing black mold from the basement a high priority in most cases? 

Make sure the condo fee is not too high.

I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is too high due to my student loans and mortgage.

First someone new will be living with you and that requires adjustments.Second it's not just someone, but rather it's your in-laws which can bring stress to any marriage good and bad.Third your introducing a money factor into a highly personal relationships. 

3 bed, even smaller, that's newly updated is quite rare in the Boston market at an affordable price so if its easy enough to do I would highly recommend it.

@Min Zhang I have tended to look away from my local market because of the high market prices.

What has also been successful is creating a list for likely foreclosure homeowners like high LTV or no equity lists and marketing to them

We don’t have a ton of multifamily and the cash-flow isn’t strong since appreciation and demand is high.

The interest rate you were quoted is not high.