My second reason would be to supplement my monthly expenses so that my theater career becomes 'fun' again but I won't have to rely on that income to feed my family. 

Also look into the VA supplemental loan.

Such as taking Social Security way to early to live on & then trying to get some type of annuity that will provide enough to avoid having to take on a part-time JOB to supplement their retirement funds.To their shock the financial advisor suggested they contemplate getting into REI & said he would have advised them to do so years ago if he was their advisor at the time.Here's the irony/karma....Years ago this guys wife literally berated my wife (for 45 minutes via cell phone) because my wife was asked by her kids to explain our years of REI & how they could get into it.

I will try using all the cash-flow from both buildings to supplement this but i think pulling out equity over time may be the best strategy, assuming rates arent crazy high by then.

A year later, I received a supplemental tax bill with revised assessed value that match my purchase price total.However this time they assess the land to be $130k and 170k for the home.Now im way off in my 2017 tax returns.

If you can't find a house and then rent out the rooms to supplement the mortgage payment.  

Hence, my venture into real estate.My goals are to use rental property investing to supplement my retirement savings, generate stable cash flow and within 10 years, be able to replace my W-2 income and go into real estate investing full time.Other than investing, my hobbies are anything outdoors: mountain biking, kayaking, fishing, hiking and spending time with my wife and our spoiled dog, Gunner.I look forward to becoming an active member of BiggerPockets, continuing to learn and grow, and share my experiences with the community!

My goal isn't to supplement (reduce costs), my goal is to replace the power grid with an affordable & reliable "off the grid" solution even though I live in a gargantuan city and not in some remote location.

Nothing exciting, but it’ll help supplement my retirement.

After occupying for  YEAR...keep the loan in place but move out and rent out the second unit.Then, use a Navy Federal Credit Union Loan...you may not have to be a veteran....and buy a house for Zero Down with no PMI....but make sure the house has an in-law unit in it so that you can throw a renter in there so you can supplement your income.