Are you (2) looking for a little supplemental income and don't mind the time you spend managing? 

We hope to start building a portfolio of rental properties over the next 10 years that will help fund our kids' college tuition, and then eventually supplement our retirement income.

-Use it to invest in some sort of 'side investment' to supplement my retirement.

I am looking for a way to supplement our income for all the lovely things that life throws at you.

I own some acreage that I cash rent for grain and also have a tiny home on it to supplement rental income.

As well as having supplemental income from renting out a room.

@Austin Janiszewski if your current primary (Property A) is renovated and will generate positive cash flow after renting, consider this scenario:Instead of selling, utilize Property A as a source of supplemental income to offset the higher interest rate environment.

Without supplemental income you want to be more conservative, but with supplemental income you can stretch these a bit

They planned to buy a large apartment house and operate it through a property manager, providing them a nice cash flow to supplement their other retirement income.

You would have a property that would be doing something for you beyond supplementing your new jumbo loan.Last thing I'll say is this.