Other than increasing our 401k contributions to lower our income below 150k, is there anything else we can do?

Debt increases risk AND reward. 

.✈️ Record February for Reid International Airport: Harry Reid International Airport achieved a record number of passengers in February, totaling 4.33 million, marking a 3.8% increase over February 2023.

The numbers rarely work in the west coast even if all 4 units were rented or even if you rehabbed everything and increased rents its still probably negative over here.In Houston however a fourplex 350-450k might work. 

They don't necessarily spike the ADR but I have seen our occupancy increase drastically while having them. 

- I realize that this maneuver will likely increase the risk of audit....curious to get a sense of how much more risk of audit I will face and does the IRS typically just audit the one year or would they dig into previous years as well?

You will increase the rent and security deposit because of the dog's liability.  

Feel free to list the property details (as-is value, PDTI, credit score approximation, city) and I'll give you an idea if the parameters look realistic relative to our standards!

First, I need to vet all tenants to the same standards.

Are there other factors outside of the rate increase that have you wanting to cancel the contract?