Which I would think is surrendering the rights due to the inconsistency of income or no income or wages? 

If you're at a loss and paying off the shortage still puts you at a loss I think your best bet is selling, or seeing how you can get more income from current rents by making it mid term/seasonal or an air bnb. 

Indeed, and depending on a variety of factors you can even use them to offset your w2 income 

Census data - median household income, employment stats, bachelors degree percentages, crime, vacancy rates, appreciation2.

We have 2 W2s( Me+ Spouse).Have a primary residence SFH and 2 rentals.I have around $40K of rental income after all the deductions/depreciation.This time I used a CPA and I am a sure he tried his best to get all deductions possible.

The only method that really comes to mind is BRRRR, which I am not opposed to, but would prefer something a little simpler for a first time deal.Similarly, I'm making an assumption that it might be possible to use a combination of HELOC and DSCR loans on something a bit more turnkey for the initial purchase and then refi into conventional after a year or two rental income?

This means that they are going to look at the ratio of the Net Operating Income (NOI, or income - expenses) divided by the monthly debt service (your monthly payment).

The benefit on DSCR is that it will ignore your personal debt to income ratio for qualification, but you don't get the low down payment options of owner-occupied conventional or FHA.  

Rental Income Powerhouse: Can the property bring in enough rent to cover your costs and leave you with a healthy profit?

want to get to a point that I am living off unearned income and not earned income.