I'm making some assumptions here, so please excuse me if this doesn't quite answer what you were asking. I'm assuming this is a rental property you own, and that you're applying for a mortgage on another property. Unless you get a great mortgage lender that can see past the numbers, if the rental income equals the mortgage payment, you have a 100% debt to income ratio. If you have sufficient equity in the rental, it may not be a major problem but if you've got significant other debt you'll have to fight hard to get a lender to set the rental property aside when figuring your ratios. I've done it, but it wasn't easy. I had to find a mortgage broker that would go to bat for me with the lenders.
