This would ruin any of our chances to take advantage of a 'first-time home buyer' program, correct? 

Assuming primary, max DTI is typically anywhere between 43-49.9% contingent on factors like zip code, program, FICO, etc.

I completed a mentoring program with Robert Shemin an currently working at St.Louis MO.

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

Helping the space create some norms and baselines will make the bad apples start to stink a lot sooner.Every industry's association from cleaners to Community Associations has some sort of certification or accreditation program for their members.

Dust and spider web all over the place, kitchen and oven was disgusting, somebody did their business in the toilet and it was still marks.

As a chief financial officer you will more than likely be very comfortable digesting some of the New programs offered for investors. 

Since you're a U.S. citizen living abroad, non-QM (non-qualified mortgage) programs designed for foreign nationals might be an ideal solution for your situation.

I've come across two different guys who just like many other are selling their programs and promising great success.  

DSCR programs vary, but getting away with putting less than 10% of either the purchase price or appraisal amount (whichever is lower) is rare.