Getting serious about growing the business with a goal of "downsizing" my job in 10 years or so and supplementing retirement income.

The other owners would not approve an assessment, which would have been significant, to supplement the amount needed to replace what was destroyed.

Then you supplement it with investments as most of us do  and in whatever investment vehicle you choose to do..

Renting to faculty, out of state students, students from abroad and more of year round (such as residency) students will not carry the same short term renter displacement, but may require a higher level of finish in some cases as this becomes a year round home.Perks here are- -Year round rent under the same renter/ as your lease terms apply-Some renters having supplemented housing stipends paid in the form of allowances, stipends, and other arrangements -Lesser degree of potential property damage for those in graduate/residency programs (simply based on age and maturity - again, use the automobile industry here in why most car rental places won’t rent below age 26)-Less need for obtaining co-signers (allowing tenant to solely establish some credit history as well)When your tenants do move on and out, as a ‘thank you’ for being such great renters for the span of their academic career, it can be nice to offer a letter of reference as well for future renting needs.

But I’m ok with fewer properties and decent cash flow when I’m retired in 15 years to supplement my 401k. 

Cozy will not give you the SSN on the report since they use a 3rd party.If possible, try to get their SSN in some part of the application process (Eg: create another supplemental form where the tenant has to enter the SSN).

You can explain how it can be like supplemental retirement income that he'd get by the month. 

I would recommend getting clear on a few things: where you want to invest, what type of property you want to invest in, and, perhaps most importantly, exactly what your goals are.If your goal is to retire in 5 years from passive income then your path will look very different from having a few rentals to supplement your income. 

Unlike Fannie/Freddie programs, HUD also doesn't have any easy supplemental loan process to do an equity take-out, so if you're trying to realize the appreciated value of an asset soon after the initial HUD closing, there's no way to do that.In my experience HUD 223(f) is best for the legacy holds (as mentioned above), estate planning, "crown jewels", etc where you have a pretty good idea that you're not going to sell for at least 10 years or later.For shorter term investment strategies, I wouldn't recommend it. 

CA supplements food stamps /EBT so the residents get more than in the rest of the US.