I'm a looking at making a purchase in the Inglewood, CA area and hoping to supplement with rental income - either getting a roommate in a SFH or acquiring a multi unit property.

Even with a live-in hack, the money you're paying in is (a) Building your equity in the home, and, (b) If you're renovating while living in, you'll get the tax benefits, as well as the force appreciation, more equity for you.Eventually you can rent it out for a stable cash flow and refinance on the original home to utilize for your next property.Or, you can always entertain the idea of a MFH (less than four units) - you live in one, and use the potential income to supplement qualifying for a mortgage.These are very loosely-given suggestions, and your due-diligence is of the utmost importance.

Is this a one off thing for them, or are they looking to supplement their monthly income from the interest payments you're making them.

I plan on doing a buy-improve-hold strategy to build equity and passive income to supplement my military pension in 8 years. 

However, he still wants to hold on to that property so that he can rent it out and create residual income to supplement his current income.

I am now a professional licensed engineer and I am also able to do real estate and investing on the side to supplement my income. 

Here is a list of great books to supplement the forums & the podcast: The Best Real Estate Books Ever If you have any questions, feel free to ask.

I like to supplement my advertising via Facebook ads during the slow season.  

Private money lenders do not advertise . its not their business they just have excess cash and want to make a few loans for their IRA or supplement their income.. 

I would prefer to have residual income to supplement my retirement and be able to pay back all the years my family sacrificed for me during my service - all I want is to be able to actually retire when my military career is done.