And with interest rates climbing, there may be a bit more leverage for buyers.How does one transition from a buyer-rookie (like me) to an investor who can supplement their income?

You already have some experience and with additional effort, will quickly climb the REI ladder to its pinnacle.

I am usually in the southwest or southeast US for rock climbing.  

Inventory is very tight and will continue to remain so while interest rates are climbing.

I am financially responsible, but my pay is static with no raises (it will, in fact, go down when the kids get older), the cost of living is climbing here in Colorado, I don't have a 401k to pull from either.

Rental rates are already increasing in cost rapidly as it is and if you suddenly force housing providers to throw up their hands at unreasonable regulations and start selling their portfolio off those prices just keep climbing.

I climb mountains for a living and rescue people as a profession.

The best part is the steadily climbing prices right now that just build your equity making the investment that much better. 

Demand will decrease as we continue to see interest rates climb but our issue is we are not building.And what we are building are not SFR’s.

You already have some experience and with additional effort, will quickly climb the REI ladder to its pinnacle.