It should really be about the income but some people do secretly want to run up the score on # of doors.

Furthermore, you can deduct the interest payments against your rental income.

You also have to make sure how much would you be netting once you move out and in order to use that rental income for that unit you're planning move out, you will have to get a lease signed for one year and lenders will be able to use the leased rental income at 75%.

Just like, in 2005-2007, a bunch of 'stated income' loans drove home values to stupid levels, for the last few years we've seen these residential "no DSCR required!"

I feel as if I have too much debt compared to my income to ever be able to get another loan for the next property.

I'm closer to solving this now as a couple local GCs seem interested in coming to terms.

No income No doc 

This calculation includes depreciation deducted during income tax returns.

Additionally, exploring alternatives like legalizing the existing cellar apartment, if applicable, or renovating the current layout to increase rental income could be viable options.

I just wanted to add that after you recover all the money to start over, during the final "R" you are also generating some income from the third "R".