He feels it would sell in a matter of weeks or months at 140K or so.I am mostly looking at real-estate as a supplement to retirement income in15-20 years, but some current income would not be frowned on either ;).So , what do you all think?

I have goals to be able to do this successfully by the time I retire for supplemental $$$$.

I have one property in Melbourne and hope to purchase more to supplement my retirement.  

Usually they are allowed if they are used as a "supplemental" heat source.

Either way you need your rent at market as opposed to supplementing your tenants rent every month.

In that's the case maybe you'll need to supplement your pipeline to include some direct mail or wholesalers, etc.

The longer, more expensive reservations tend to come through vrbo.I would advise you to focus on 1channel and build up your placing there, while supplementing your rentals from other sources as well.

After a year or so, you should have several thousand available at a moments notice for purchases or down payments.To supplement that, I use the 0% balance transfer offers from credit cards.

I'm thinking about getting into real estate investing to supplement, and eventually replace income from my job.

It looks like I should perhaps supplement my stocks with real estate instead of looking at it as one vs. the other.