It's also more cash than I have available so I would have to supplement with a HELOC or refinance.

Supplementing with some short term income is a good way to make those payments.    

Starting a Roth IRA in their name and funding it from their earned income means they can become millionaires by the time they retire and have a supplemental income stream to the income stream they receive from their rental properties.

Is this something that's in lieu f a lease with the landlord, or a supplement?

At first, this seemed like a good way to supplement my 401k and pension for retirement.

If you are hard working it can initially supplement your income.

After spending lots of time reading many posts here on BP regarding insurance, I've decided to go with an additional Commercial Liability policy to supplement the landlord policies to cover both properties.Since the liability insurance is with a different carrier different than the landlord policies I was told I will have to remove the liability insurance from the homeowners policies so the new commercial policy (3 million) will cover any liability.In general, am I giving up any liability coverage from the landlord policy that may not be covered by the commercial liability policy when I terminate that coverage?

We are estimating and hoping for a appraisal of around $130k after everything is completed when we go to refinance again.Like I said when i started this thread my goal is to get into rental properties to help supplement our income.

(it is on a 15 year mortgage with 12 years remaining) I am leaving the Army after 12 years, in Jan of 2017, and don't want to supplement that property anymore.  

There's usually a clause like this:EFFECT OF ADDENDUM: THIS ADDENDUM AMENDS AND SUPPLEMENTS THE CONTRACT AND, IF APPLICABLE, ESCROW INSTRUCTIONS.