Hobby landlords do not concern themselves with profit and usually supplement their tenants rent.

I would love to transition into real estate full-time, while also supplementing my income by doing freelance writing gigs online.

I would tell them it is what it is and they are welcome to supplement the air conditioner with portable A/C or window units.

So more so ideal for renovating the property and converting its use to business purposed.Someone also mentioned a reverse mortgage - a good idea if you don't go the STR route and instead want to supplement your father with income by tapping into that equity.

Many investors are looking for passive income, others would like to supplement a salary from a job or business they’re quite satisfied with; still others want an inflation hedge.So I ask, what goal(s) are you wanting to accomplish by utilizing real estate investing?

I've never really had an emergency that would have devastated me financially or put me in a very bad position.I think that I will take your advice and that of @Jeff Rabinowitz and make sure that I have a nice cash fund to supplement my credit lines!

I need the rental income to help supplement my income.

That is going to supplement the 529.  

The general meetings are typically the first and third Thursday of each month and are a good place to begin networking and a decent supplement to the info you'll find here on BP.My partners and I are fairly new to RE as well, but once you start taking action, it's amazing how much quicker you learn and things start to make sense.

Not raising your rent annually means that you are supplementing your tenants rent.