My main area of focus is “buy and hold” and my goal is to acquire 2 more properties in 2017 and own 1 property free and clear in the next 3-5 years.I will have the opportunity to retire from my current job in 5 years. 

If your objective were to generate steady cash flow for retirement you would look at very different opportunities from someone who wanted to earn 3x their money in a year.  

I am interested in real estate investing as an income supplement and retirement tool for the future.

I've worked with a self storage developer and they're looking at common sources like local universities, retirement homes, proximity to multi-family properties.  

@Eric DembinskiTo learn about he prohibited transaction rules visit the following. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactions

I have family ties there and intend to retire in the area. 

I have a full time job that supports this....I can afford to buy another few of these over the next 5 years and hopefully fund a comfortable retirement...which really won't be because I'll be dealing with all these smaller rental houses :)The other option is to buy a portfolio of these homes from other investors - there are a ton of them out there as "package deals" where for $425,000 you can buy 6 at a time or so.

My parents will most likely need help with retirement and I want to be able to help them do so.

I have done so, but I'm well aware that my salary will not make for a cozy retirement.

The wife and I have some buy and hold properties in Sacramento that are getting 10%+ CoC returns with ok equity appreciation and we have some buy and hold in Orange County that have 1-3% CoC returns with BIG equity appreciation.I think the old thought process when we started in 08-09 was to just buy something that "broke even" and let the renters pay off our house so when we are in our 70's... we'll have free and clear homes to retire on.