I alternate between PC and letter.

It would be an alternative to a window unit without the high cost of central air.

And as far as commitment level, I'd like to own my first piece of real estate, but am only ready to commit once I understand my ability to get approved, for how much, other options for obtaining lines of credit, the amount of passive income available, and my alternative options in case things don't go well.

Alternative projects like medical and senior assisted living are also what I'm moving towards because I think in the new developing economy, these are going to still be in demand and may even be eligible for subsidies.  

Alternatively, the cash flow you are getting now is pretty good for a single door... and you are making better progress on your loan than you would if you reset it at 30 years on new properties - albeit with a lot of appreciation equity tied up in the property.So it is a question of sell or keep, but definitely not refi at the values you listed. 

You can hold alternative investments in this account.

After closing my personal training studio I have been looking for alternative ways to invest and have loved reading through this community over the past few months.

This may be a cheaper alternative for you. 

@Phil Deshay..you're going to need to look into alternative solutions because as Jaysen stated, no conventional loan is going to work at that DTI. 

If not, is there an alternative mortgage option that is attractive (in terms of down payment, or interest rate) for such a scenario?