Reality: 20% QBI deduction.- Plan: eliminate AMT - Alternative Minimum Tax.

You can always leverage rentals within their ability to service the debt. 

I am not a debt investor, a bond investor nor am I an investor in corporate debt, private equity debt, peer to peer lending, etc.  

They use an economic vacancy figure instead of breaking out loss to lease, bad debt, and concessions so as to conceal their assumptions but a skilled operators can reverse calc it.

One factor to consider is your interest rate on the debt.

There might be some hoops to get through with conventional financing with your income situation, but if that doesn't work, you could use a debt service loan.

OR refi one at 70% and get the 45k loan leaving some debt on the line of credit but keeping home 3 free and clear and adding a lot of value to it as well as getting some really good rental income from it.

It is where you can eliminate a majority of headaches or sign yourself up for a roller coaster ride.

Also, do you have enough equity that if you sold one you could pay down most of the debt on the other 3?

Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)