Assuming their income is low enough they don’t have to pay any state or federal taxes…Assuming they don’t have a car as the payment and insurance would pry be $800/mo.Assuming they don’t have to pay any utilities as that would probably be $300-$400Assuming all their food is provided by the school or that would be $300-400 minimumAssuming school is costing them nothing out of pocket.

My big takeaway is that it wouldn't offset your income unless you were a RE professional.

The low score is due to a recent lawsuit he lost.

Be mindful that the 0% tax only applies upto that amount including all your income(W-2 + capital gains from sale of real estate).A lot of people think that just becuase they make less than $50,000 that 100% of their capital gains would be excluded.

The distinction between active and passive income is so important for investors, and the RE Pro status is a game-changer for offsetting active income.

You would still do all of the normal processes for the application - credit, jobs, income, background, etc.

The other is in the low 500s but stated that this is due to a car accident totaling her car and is in litigation, so she is not paying on the loan. 

MyRental by CoreLogic is another reputable platform.That said, the real gold is in pairing the credit/background check with income verification from the source—not just a paystub or PDF.

If you want something to worry about...can the average income support the average home purchase or rental?  

To prevent low values in the refinance process, we are able to get your preferred appraiser signed up to our AMC panel.