125% income to debt seems like it could be tough to find right now, but I am considering a DSCR. 

Rural areas are typically defined as areas with populations of fewer than 35,000 people.Use: The property must be used primarily for rental purposes and provide affordable housing options for low- to moderate-income tenants.Developer/Owner Eligibility: The developer or owner must meet specific eligibility requirements set by the USDA, including financial stability and experience in property management.Income Limits: The tenants who will be residing in the multifamily property must meet income eligibility limits set by the USDA.

This will allow you to take deductions against your ACTIVE income (W2 paycheck).

This is my wife's first job, so she won't get much of $$ on her mortgage alone, but I want her to eventually get a mortgage under her name once she establishes her income in the next couple of years.

Are both taken out of the gross rental income before all of the other operating expenses or after you deduct the operating expenses?

I'm shooting to create enough passive income in the next 5 years so I can sell my current businesses and refocus my energies on creating a comfortable life for my wife and I.   

This helps ensure you can manage payments even if the property isn't generating income right away.Given your situation, if you're aiming for an investment property and have about 3 months of PITI saved up, you're likely in a good position for a conventional loan.

However, financial freedom is not simply replacing your current income; it requires maintaining your current lifestyle for life.

It has to be possible my son deserves a dad who's around to enjoy life with him and with an income to give him the life I never had.

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