Mine and my SO’s annual income gross income together comes out to around $148,000.

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

In general 10% of valuation in gross annual income.

Our long term goal is to establish our business over the next couple years (generating income history, credit, credibility, etc.) before I retire from military service and transition to full time real estate investing. 

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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.

For this property, you would be wise to incorporate the income from the other units against your debt service to make the property more attractive to lend on.

You maybe able to do a cost seg(needs to be done by a professional) and get bonus deprecation BUT you maybe not able to use it since you would need to be real estate pro or materially participating via the short term rental loophole to do so against your active income.

Based on the available information, here are some creative real estate financing and investing strategies for generating passive income:1.

Half of US renters are “cost burdened,” meaning that they spend more than 30% of their income on housing (rent + utilities).