We had a vision for the property and we were able to earn the trust and support of the owners to see it through.

Regardless, there are numerous factors that would affect a correct answer to your question. 

They sent me the IRS documentation, I’m just not concerned about an audit as I have supporting documentation

I may be reaching out for additional support. 

For your rental piece the bank will include your PITI on the monthly pmt part (numerator) and will use your tax return for the income piece usually taking your taxable income and backing off depreciation and sometimes other non cash items like mileage you deducted.

It shouldn't be a big deal, you just write a letter of explanation and submit supporting docs.

I appreciate the support and the advice!

Inexperienced investors tend to (1) get exited about deals without having the experience, knowledge or ability to properly determine if indeed the deal is good, bad or mediocre, (2) take what the seller says as gospel not realizing most sellers will exaggerate, lie and or withhold vital information to get what they want, (3) engage people who will provide opinions for free rather than pay a competent professional, (4) get emotionally caught up in the deal and very defensive when receiving an opinion or information that doesn’t support their dream, and rationalize that more experienced people who point out flaws are “jealous, negative or haters”.Btw, no one can provide any knowledgeable answers to your questions without first analyzing the deal, your ability to come up with a down payment, your credit capacity and banking relations, if you have a track record, your experience with similar property ownership, etc.

From an actuarial standpoint, I would be completely shocked if there was any data to support a greater risk of claims based on the length of a tenant's lease.

I really appreciate the kind words and support!