You can use the cash flow to help supplement buying new investments or what not.

The biggest issue I've seen is when people use a generic formula based on a book or podcast since those formulas have to cover a very conservative approach. 

I’ve always worked in seasonal W2 jobs and supplemented with independent contract work, not something a bank wants to see.  

We are approaching the level of savings where we feel comfortable investing in our first property, an owner occupied multi-family property, where we can begin our real estate investing and, hopefully, grow primarily as low to mid level rental owners to the point where we can purchase a dream home in 15-20 years, as well as have a good set of rentals to supplement our retirement incomes 15-20 years beyond that (we're on the younger side, if you can't tell by the timeline). 

@Donald Baptiste you can get generic forms in the resources section under file place. just change what you need to according to your state. you can also just post in the forums here im sure there is a real estate lawyer somewhere n there that can suggest some great clauses or additions you should put in your contract. just make sure you understand it before you try to use it or explain it to a buyer.

Another option is to supplement your income as a investor with a job that coincides.  

On legaldoom you get a generic operating agreement that wont protect you to a high standard.

Do you happen to have a generic copy of the type of agreement used?

On my Federal tax it is filed as a schedule E form 1040 (supplemental income and loss).

I am looking for buy and hold properties to supplement my income and allow me to retire early.