All goes according to plan my fiancé will have a real estate license by the end of October and I will start my next full time job on Oct, 8th.I am concerned about my eligibility to obtain a loan and would like to know if anybody has advice on how they would go about tweaking numbers by paying down debt and lowering the down payment to lower the Debt to income ratio to get approved or if they think I sound like I’m in a sound position.

Our family's goals are to pay off our consumer/student loan debts and have enough cash flow that I can cut back my hours (maybe to 0 hours) and travel full time in our travel trailer for a few years and then maybe go back to work but probably not.

How likely is it for someone who has 60% and under in DTI(debt-to-income) to obtain a loan?

In low rent markets a rough estimate of the expense, not including debt pay down, is 50% of the rent.  

Thats the simple answer mind you.If you are wanting a SFR for your main residence then you either need to make sure that the rent you get, from the unit you use to live in, covers your new mortgage in order to keep the same cash flow and savings.

Anyway, here's a couple companies you can report it through: Rent Recovery Services and AOA Debt Reporting Service.Good luck.

Having $100,000 worth of debt to only make $40,000/year doesn't make a whole lot of sense. 

Credit union is the best source of financing if you can secure it.She's asking you for a business plan basicly: monthly projection of your payments received from rent and your payments on bills like taxes, insurances, property manager etc.Let's say, you want to buy a house for $70K, update it for $30K and you think your rent will be $2K/month.Then you make a payment plan for each month what is going to be paid: January+July - taxes $1020 each; March - insurance $870, every month water/sewer $50 (if you don't plan on Tenants to pay)When you make it an Excel table, there will be each month left cash flow, which you then add with mortgage payments.That's one of the main projected financials: your cash flow.Income projected as an income&loss statement: $24,000 income from rent                   $2040 - taxes                   $870 - insurance                   $600 - water/sewer                    $2400 - PM                     $4,000 - interest on mortgage- depreciation - maintenance- other expensesWhen you talk to the bank,  they should see positive numbers, not just that you know you'll pay.

If your deals are over $1,000,000 there are some additional options though as they can almost qualify for agency debt.

And in any event increased debt =increased risk.