So for the $1,000 Monthly payment, you'll need a Net minimum income in the vicinity of about $3500 per month to qualify for the $1000 Monthly payment.  

When I got pre-qualified for a loan, when rates on places like bankrate.com were showing ~4.5%, we were quoted the higher end of 5.25 because rates are a little higher than SFR's.

the  rental income for  present and  future rental income  can be  counted to a certain degree  ...so this should make your  dti ratio lower ......in most cases  rental properties will   cash flow  positively  or at least  break even   from a lenders  qualifying perspective  ...fyi - lenders  will use  your schedule E  for analyzing rental income  for properties  owned for  more than 1 year

You picked them because they were qualified.

Just be aware that most lenders want to see a full year (most of the time two) of self employment income to qualify you. 

It likely wont qualify for FHA or CA without it being repaired.

Everyone has to apply and qualify. 

@Rian AshHey Rian, To answer your question, there shouldn't be any issues during the refinance as long as your spouse qualifies for the property on his own, and there should be no seasoning regarding a rate and term refinance. 

Learn your market, and stay close to the skilled professionals, such as lawyers and title agents, who can save your bottom line.See the original at: https://www.biggerpockets.com/blog/newbie-wholesaling-faqs

They will ask for detailed material and maintenance costs, ARV projections, cost per sq ft... ect...Although that may all sound daunting at first, it is actually a way to refine your skills and make sure the deal is good enough to justify a hard money loan.