Thanks for the replies guys, some questions

Namasste1: Am I understanding you that, if I downgrade the Sapphire, then apply for a new CSR reserve I will not be able to earn the rewards on the CSR because of a restriction for on 1 Sapphire bunus per 24 months? I was not aware of this restriction, just the 5/24 rule. So as far is this rule is concerned, CSR reward are classified as sapphire rewards and can only happen once every 24 months? If this is the case the whole plan for maximizing rewards is a no go. So if this is the case I can

1. Downgrade the Sapphire to CF.
2. On day of operation, earn the 5000 AA miles by paying 1000 of operation with downgraded Aviator CC
3. Parents pay rest and get Citibank double cash rewards
4. In April pay 1500 through paypal on CF to earn 5 percent.
5. Pay rents of rest through normal bank interest free
6. Wait til December/January to get CSR, I suppose I could get now but not being able to get bonus kind of hurts it for me

When I get the CSR, I could earn bonus through regular spending. In the meantime I could just use the UF card and my rewards will remain active.

OR

Should I scrap the whole thing, since without bonus it doesn't seem to be such a great idea. Just put 1000 on the aviator and the rest on my Chase Sapphire and keep the card till October and downgrade then before that fee comes up?

Thanks again for the replies guys!

Scott