., I may be able to give you few options for supplemental heat.

Hopefully one day I will have enough supplemental income to replace my 9-5, but for right now I hope to lean on a wholesaler or two that work in my area to find me great deals. 

Okay BP, I need a bit of reasoning to supplement my analysis.

Have to agree with Rohan, too much equity in property and rent is way too low based on value of property especially supplementing the present tenants rent at $700.

At that time , I can use the rental for supplemental income plus paid off property for my retirement.

You may need to supplement the building policy in some ways.You'll also need liability coverage and, if you're occupying the condo, coverage for your personal property.

How about supplementing the the question with "in this post Dodd-Frank era?"

Then actually do everything they tell you to do.There are a lot of ways to supplement your income while you pursue real estate full time, if that was something you wanted to do.Hope this helps!

I'm thinking that cash flow would be the main priority to supplement "John's" income in order to lead a more comfortable life.

., I own a few long-term rentals in my personal name, and my accountant files them on schedule E (1040) as supplemental rental income.