Once I list my rental, my lender will write me a check for the 20% that I had put "in" my deal and I use those monies to move onto my next deal or to supplement my bank account.

Are you trying to find a place that will cash flow you nicely each month or a place that supplements your payments and is nice to live. 

I want the money I make from paid for rentals or even a few rentals that arnt paid for to supplement my pension.

When I was 20 I bought my first investment home and then used the money generated by that investment to buy more investments and to supplement a shot-term lifestyle I will never regret.  

Again, this is from their website - We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as: Getting a comparative market analysis (CMA) from a real estate agentGetting an appraisal from a professional appraiserVisiting the house (whenever possible)Why would they mislead consumers by promoting the site as the Real Estate source to count on.

@Marco Santarelli : You make an excellent point and as a new investor looking to supplement my retirement income, this is one of the strategies I am considering.

So you jumped thru all the hoops you have the deed and OAS in hand you go to the sheriff to evict … sheriff 5 days, 5 weeks 5 months later (depending on the mood) appears in front of the property (they don’t care about your timeline..) to evict …and what happens…people who live on the property are actually NOT the owner (that are typed in your OAS or lis pendens) but somebody who rents from the owner so sheriff says good bye and wishes you good luck… sheriff cant evict anybody as they are tenants and supplemental forcible detainer needs to be filed.

My goals are to build a supplemental retirement income for my husband and I (we are a little bit behind) and to build an income producing career for myself so that my husband can pursue an alternative career and leave his $140000 yr job without much of a change in living standards.

I guess then I could really see if it would benefit me to purchase an investment property in the same area.......or a foreclosure....using 203K.....Just do not want to pull so much retirement cash out for downpayment unless this will benifit me and supplement my teachers pension in a few years...

My goals are simple, to buy and hold the asset, pay off the mortgage using some of my money and supplemented by the current rental yield, and maybe in 20 - 30 years when the city center has swelled up past the building and it becomes more valuable , consider tearing it down and building a more appropriate structure.