The reason I'm interested in buy & hold is because I have a really great job and my goal is to simply supplement my income both now and in retirement.

I'm helping a friend who recently inherited a house that could supplement her retirement income.

How can a fund that is primarily a debt fund (like their supplemental income one) pay only 3.5% yield when their quoted expense ratio is only 1%?

If I could supplement that with what I make from my day job, that would be different.

Do you plan to cash out the rehab costs and value add and, if so, how...sale, supplemental loan, refi with Freddie?  

The rent rates are a bit lower, perhaps that is why ($550-$800).I know some people use craigs list to help supplement what the rental rate is.

(And before someone pedantic says "there's no 44% tax bracket...take the top bracket and add the lovely 3.8% Obamacare Supplemental Tax on top of it.)The tax deferral is not worth the limitations of having my money so restricted and having to have an authorized agent do every step of the transaction for me.

These are great supplements to the traveling nurse tenant pool.

Can I put down 5% with conventional loan and use the estimated rental income to supplement the rest of the loan?

I was reviewing modification documents and they are an amendment and supplement to the original note.