The goal for these two jobs is to gain knowledge and supplement my job I desperately want to leave.

We have, on occasion, put in a supplemental window unit if the CHA wasn't able to keep up and it became an ongoing issue. 

I would add the supplement to the Partners for Good Housing where the page explains hazards associated with lead water supply piping and requires landlord's disclosure of any lead water supply piping.And what about smoking policy disclosure?

Come see me in the Maurepas room and download your white paper from below as a supplement.  

@Matty P.In general, yes, closing costs are higher than a regular FHA loan.You still have to pay MIP upfront and monthly like a regular FHA loan.However, with a 203K you will be charged supplemental origination fees.

We do have other marketing vehicles that are supplements to the direct mail- text messages and RVM totaling an additional 3k... but they all point back to a letter we sent someone.

I'm a teacher and will need to be supplementing my income big time in Montana.

You do some upgrades and sell it for 110k after 2 years.30 year mortgage:You've gained $2,883 in equity from mortgage payments, you've made about $4800 from cash flow, for a total of $7,836 just from cash flow and equity from payments.15 year mortgage:You've gained $8767 in equity from mortgage payments, and you've had $0 from cash flow.I also have to say I'm not sure how taxes will effect these numbers, as I've purchased 2 of my 3 properties this year, and I converted my own home to a rental this year as well.I'd say if you're planning on holding the property for a long time, it'd probably be better to have the cash flow to be able to either re-invest or to supplement your income. 

We hope to supplement our regular income slightly (maybe paying myself a monthly management fee) while significantly increasing our wealth/retirement.

If you want to supplement the proceeds with cash from other sources so the mortgage is lower that is fine.