The first two we lived in and rented bedroom to supplement the mortgage.

Passive income stream to supplement current retirement income.2.

@Clayton MillerTo Tim's point if you house hack a property would will start to reduce your expenses and supplement your income and that would help boost your RE career. 

We are very new to the process but wanted to get into it because having a renter would allow us to supplement some extra income and help pay toward mortgage while my wife stays home with the young ones.We have inspection today and if all goes well, we'll be signing off with mortgage broker tonight.Our broker needs insurance information, but we don't quite know the best way to insure it knowing we will in the very near future rent out the basement.  

My wife and I are discussing buying our first rental property with the aspirations of having 3 or 4 to supplement our current income and hopefully fund college for our children which are still young.Our plan was to buy a home at 50-75k and rehab it with 20-25k and then rent it for 1-1.2k.

At the moment I'm looking to supplement my income.

I would ideally like to transition fully into real estate investing in the next year, possibly by supplementing with a few traditional real estate deals once I pass my real estate licensing exam and get sponsored by a broker.

Budget for all of the direct and indirect expenses.Be comfortable hiring others to supplement what you do.  

If it is cash flowing negatively already, you are already supplementing it now with your regular income.

Hi BP,I'm trying to help my parents find a income property to invest in to supplement retirement.