Once I build some profit I plan on putting a structure down.

Because of the balance sheet is off you can certainly bet that something is wrong with the profit loss statement. 

It makes rapidly growing affordable housing possible by making it profitable.

Ask anyone who ever sold a business, even with great cash flow, it's not that easy to sell for a profit. 

The goal is to make money, collect profits, NOT collecting properties.  

Some folks are happy with 5-8% profit margin and others don't look at much under 20%.It is all going to be up to you where you are most comfortable. 

(I am a silent investor, the developer is doing all the heavy lifting, and we split profits at the end)

A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

Now that I've had a bit of time to put in some info into rental hero, under the "profit and loss" section, you can save/print a PDF with details. 

Either1) your startup takes off and you can distribute profit fast enough to pay off your debts, or2) you find another source of $100,000 a year (which barely even starts to pay down the $300k, but might provide a better chance for a better loan), or3) you BK and possibly lose the rental houses to creditors (hopefully not, but we don’t know how they are held), or 4) you sell the houses, take the tax hit, work with the IRS on a payment plan whose interest will be much lower than your CCs, and focus on the startup.