Most who try to replace their W2 income invest in less sustainable investment methods: investing in lower tier neighborhoods that cash flow well in spreadsheets or flipping homes.

Principal buy down that occurs with each payment met.3.

@Connor O'Brien CHA does release payment standards that can be found on their website but those are maximums, not guaranteed. 

We looked at a couple different options as far as % downpayment and I figured I would refinance in the near future to help the payment get down lower.

Do you already have your next down payment ready and lender ready? 

but, it's not going to be "profitable" for several years, depending on how you define profit.you'll have a down payment, then closing costs - which new investors always seem to be shocked by - then potentially some costs to get a property rent ready, then you'll pay a month's rent to get it listed and rented out, then you'll likely have some repairs after the tenant moves in.  

So you’d be hoping to make $200/months for dealing with 3 x as many tenants, vacancies, tenant on tenant conflict, late payments, etc etc. . 

Quote from @Kevin Sobilo:Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45% Obviously I made a typo.

His methods are unsafe and unwise.

Project phases typically divide payments into an initial deposit and subsequent installments.Depending on the project scope, you can divide the payment into milestone payments.