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The tooth will fall out by itself eventually.
However, the fact that Bailey has one loose tooth indicates that he has stage IV periodontal disease. This is very serious. It indicates that he has severe infection around some of his teeth that has progressed to bone loss.
This chronic infection can cause liver, kidney and heart disease. I strongly urge you to allow your veterinarian to do whatever dental procedures are indicated to help treat this condition.
The brushing is good, but save your money with the water and food treatments.
Once Bailey has been treated by your veterinarian, continue to brush his teeth and you might consider the use of Hills t/d (dental diet). t/d is remarkably effective in some dogs in slowing the progress of periodontal disease.
Good luck with Bailey
No doctor patient relationship is formed by this communication. This advice is no substitute for a complete physical examination and appropriate diagnostics provided by a licensed veterinarian.