The mortgage payment, taxes, insurance, etc. would probably run me about $1,100-$1,250.Given my personal budget allows for $1,500/month in savings, anyway (plus a discretionary allowance I could tap into if needed), I feel like I could handle vacant months without feeling the squeeze.I would definitely use a property management service — the combination of my inexperience and my long work hours (often 70-90/week) means I am simply not the best candidate to manage property on a daily basis.I'm not looking for supplemental income out of this.

I currently work 7 on 7 off so my schedule allows me to relax and give opportunity/time for a second career or supplemental income.

It is supplemental heat for one area of the house so they can go without it but to have spent the money for the heating fireplace and its too expensive to use that is crazy.

I would like this investment to supplement my current income, and over 10 years build a sizable real estate portfolio that will allow me to leave corporate America and spend 100% of my time focusing on growing my units.

And if you are trying to supplement your income with rental property, its gonna take a few units to make much difference.

This is especially true if you supplement long-term holds with flips that will fund more long-term holds.

Our very first goal - which I stole from the podcast/episode #2, is to acquire 5 rental properties over the next 2 years with the intent of having them paid off by the time we retire so we can use the income to supplement our retirement and pass on to my daughter someday.

I had a teacher in high school that used his 3 - 4 months off every summer to flip a house.I'd take the advice above... buy a multi-family in the area you want to raise your kids to supplement your income.Use the remainder of your cash (cash is king...

I'm interested in supplementing my income with real estate. 

The HOA policy is walls-in coverage so I am looking for liability coverage to supplement that.