DTI, W2 plus self-employed???

[reneasworld]

Hi, I have been renting a house for about 2 1/2 years and my current lease will be up in January of 2017. Since, I am a planner I have been looking at different properties because I was debating buying vs building. My mortgage score at one point had been between 680 and 707 before a recent increase in DTI and a collection from Progressive that I am fighting. Now, my median score is 602 but one of my scores is still 686 yet the other is 598. I know once my dti decreases again and the recent collection is removed it should go back up. I am concerned about DTI. I work as a school teacher but I also tutor and host events. In January, I incorporated my tutoring company because in two to three years I plan on expanding to open a school. I started paying myself this month, withholding taxes and also paying a draw off income from the company. The problem is that my recent tax returns will not reflect this information. It may start reflecting income for next year but I found a home that I am really interested in that has a building in the back that is zoned for a day care school. This would be great for me for a home and for business because I would not have to worry about finding a building for my business. I know I cannot do anything now but would like to see if I could get this property for the summer or even offer a lease with option to buy. Sorry if it seems as if I am rambling but I have a lot going on and do not want to miss out on this great opportunity that would be such a great long-term move for me. How much income would they like to see from me? Can I prove it through my bank financial? The property sits on over an acres of land. The main home is a 6/4 and is over 4,000 sq feet and I am not sure about the sq of the building in the back. Yes, I would have to put some work in the building but the home is move in ready and I would have to do that anyway for my business. They are listed the place for $580,000 but I was told the place has been sitting there empty for 6 months and the owner is motivated so I am sure I can get them closer to 520,000. I can put down about $25,000. Thanks for any insight.