Unless you plan on purchasing the property with all cash; obtaining any type of financing for a property as a married couple will mean that both of your incomes and financials will be factored into the financing with conventional lending.

Rental income finances everything in all of them including all the custom upgrades and upkeep done mostly by hired hands.

just some things to think about.in addition to the BP family of podcasts, the rental income podcast with Dan Lane is a great podcast and he interviews a lot of medium size landlords who aren't flashy but really know what they're doing.

I think you are really asking about the corporate level accounting. 

Sell the land and 1031 into something that produces income unless you have the wherewithal to refinance your 3 SFH and build to rent on the lots and then refi with appreciation.

No Income.

Now the great thing is that you can also use the other units rents to help qualify if your coming short on income to qualify.

Though the units are collecting income now, there may be issues in the future that come up.

More details:Mortgage (principal + interest): $2930/moProperty taxes: $15K/yearHome insurance: ~$1K/yrCost of home ownership/month: $4280/yr (not counting for any tax deductions related to the interest and property tax)If I account for $20K of interest and $10K of property taxes as an income deduction, then I can reduce the cost by ($30K x 35%) divided by 12 = $875 per month = $3400/mo cost of owning the houseRental income after 35% federal income tax + 9.3% state income tax = $2618/month (!!)

If you dont have any verfiable employment / income -  you might not  be able to obtain  traditional  financing .