PR application while guarantor is retired?

Hi everyone,
I am back, I would like to know whether I have any chances to get my PR application accepted even though my guarantor in a retired. I know that majority of spouse visa holders guarantors/sponsors can be either their spouse or the parents in law. I believe there should be someone like my case where the guarantor is a retired father in law.
Background about my case:
- I lived in Japan for 4 years: visa renewals 3 months+1+1+1+1+3.
- I went to school and currently doing part time job (spouse=student)
-Last year annual income is about 22–œ‰~.
-Guarantor (father in law): retired, doing part time job since last year/we do not pay rent as he is the owner of the house.
Do I have any chance to get my application accepted?
Some people say that not having a good income is not really an issue when applying for PR, to what extent that can be true?
Thank you.

short answer possibly yes.

was in the same situation
wife & me part time/contract total income around 3mil.
paid into national health , wife paid into pension ( I didn't), paid taxes.
father in law, retired and working part time act as guarantor throughout my spouse/PR (1+1+3).
stayed at wife house.
only difference is I have one child.

applied PR straight when I got my 3yrs renewal spouse, got it in about 6 months.

Thank you so much for the answer.
I hope it will work for me as well.
I heard having a baby is a great plus.
My wife wants to have a baby but for financial issues(financially unstable),I refused the idea of having a baby before me and wife complete our education and get a good job.
Again, Arigatou Gozaimasu.