So, that 4.5% you are earning? 

I'd ask for the rent roll, or income statements.

A DTI (Debt-to-Income) ratio of 50% or lower, when including all expenses you pay/month, would be safe IMHO.

In general 10% of valuation in gross annual income.

My long-term goal is to replace my income with passive income to not have rely on my day job.

I'm not finding much unrenovated even that is even near 4% cap (net income divided by acquisition price).

She declares bankruptcy/pays off those cards with the cashed from the sale and moves forward investing as a business entity.additionally, her personal residence is income producing as well since she rents out two rooms on Airbnb and runs her cleaning business out of an office there. my questions are1.

Loan approval is mostly based on projected rental income, similar to commercial properties.Disadvantages - higher interest rates and can be a riskier investment. 

If you can throw some of the excess income from the high season months at paying down your balances and lowering your credit usage you will very likely raise your credit score.  3) With a higher credit score and lower balance you could probably consolidate the credit card debt into a lower interest personal loan.  4) You need to analyze your listing and your pricing to make sure that you get more off season bookings. 

However, if you lose a tenant, you lose all income.