You can always pay more and save yourself the interest (even on a fixed rate 30 yr mortgage you only pay interest for the time you have the $s outstanding).If you have extra funds, you'll want to do the math and see if you can achieve a better return by paying off/down your mortgage or acquiring another property.  

To make RE work, of course, you need cash flow and ideally GOOD cash flow (when measured based on say return on equity, or return on cash invested)Unless you've got really deep pockets you should be looking for that 10% + return, if not more.To achieve that from my experience you have to be prepared to DO WORK!

Not sure if this is achievable, although I've seen it based on certain properties on the MLS.

@Sue ZikriaTo achieve your $40k passive income with your starting point of roughly $100k to invest, I would definitely start looking into larger syndication deals on LP side that would give you more scale.

Write down your goals and write down a specific plan to achieve those goals.Of course the answers will change over time as learn what you do and don't. 

My goals are to achieve financial freedom through real estate.

If this is done correctly (by not paying too much, completing the rehab, achieving market rent) you should be able to do a CASH OUT refinance of approximately 75 - 80% of the ARV (after repaired value) of the property.

You can achieve the same or more with a triplex or quad-plex....with FHA loans available on 1 to 4 unit residences.

Side-bar....Thankfully, the QBI rules say I can also count my contractor's hours, so I should have no problem achieving the 250 de minimus safe habor for 2019.4 hours per week is not particularly stressful, but I agree it is not--as many have pointed out-- truly "passive" investing. 

The learning curve is not as steep as Podio as well, however, as its a newer product, it definitely requires some experimentation to achieve the desired goal.