Too much is on the Personal side, Schedule A and creates the DTI ratio - - yes by all means manage that.The income property on Schedule E is a wash (debt is covered by receipts), carries net income back to the 1040, but does not contribute to the DTI - -So use as much OPM as you can get to preserve cash.

@Suetuko Emem Ekpo-Ufot Watch for the return cards and update you list as soon as you get them back. 

I'm able to put all of my rental income and expenses into Schedule E such that it matches all the various 1099 forms I receive.

In Austin there is a long wait list as affordable housing is a big deal here.

@Mark S.You hit all the points.It won't show on credit for the most part (some lenders do report on credit), but when getting underwritten, the properties will be found on Schedule E whether in LLC or not.

You will still report all the income in 1040 under schedule E. 

@Randy E.

@Gerard Gonzalez After I completed the e-notary I had my funds in 3 business days

(i,e, they figure it out 5 years from now when they reassess again, can they charge me for the previous 5 years for the more accurate amount?

I know you can file for e-permits online but I'm not sure regarding permit extensions and what information they need besides the extra fees you have to pay.