Generating Consistent Income From Investments

One of my accounts (Da Vinci, 2 Units) is an HSA account. I want to invest these funds in a way that they generate consistent income so that I can use the income to fund small medical bills. So far, I have relied on JNK for the purpose - a nice 6.7% yield. However, dividend payouts in JNK has been dropping every month; there is talk of a bubble in junk bonds - and I think I am losing the opportunity for capital growth by keeping JNK long term. So I want to diversify my holdings here.

I have four constraints while diversifying here. First - I would like to get some emerging markets exposure since I think I am under-invested in emerging markets currently. Second - I would like to get some real estate in the mix since right now I don't have any. Third - I would like all assets in this account to be high yield with preferably monthly dividends. Lastly, to avoid trading costs, I would like to only include ETFs from TD Ameritrade's commission free ETF list, as far as possible.

After searching far and wide - this is my tentative list:

1. JNK - nothing beats the high yield and monthly payout. I will reduce the size of this holding significantly and focus on building it back up using dollar cost averaging so as to minimize capital risk.
2. RWX - International real estate. Very high yield (6.49%) and emerging markets plus REIT exposure.
3. DEM - International dividend paying stocks. This is not part of TD's commission free ETFs - so I would make a one time significant purchase of DEM and then let that be.
4. VYM - US dividend paying stocks.

I will start by re-allocating my portfolio to have JNK 10%, RWX 10%, DEM 40% and VYM 40%. Any dividend will be pushed into JNK or RWX, unless they are needed for current medical bills. Holding in DEM and VYM will be left along for long term portfolio. VYM will be sold first in case of larger medical bills (no-commission) and DEM will be the last to be sold, if needed.

I think this is a good plan. I will implement is around end of the month when JNK moves out of the 30-day window for commission free trades.

Today's art is another of Rome's spectacles - The Trevi Fountain - a sight to behold, especially at night.