I am a Columbus based musician looking to supplement my inconsistent income with some cash flowing rental properties. 

As both an agent and investor in real estate, I can personally and professionally attest the significant role that investment properties can play in developing a portfolio of supplemental income.

But ultimately, I'd like to supplement my salary and escape the rat race.

This enables you to defer the payment of your ordinary income, capital gain, depreciation recapture and/or Medicare Surcharge (“Obamacare”) income tax liabilities.There are important timelines and rules you must follow in order to successfully complete a 1031 Exchange.  

Here are the stats:Current payment and rate: $1,807.23 w/4.75% rate 30 years at 4.25%: Savings of $230 monthly with MI 15 years at 3.5%: $1,868.83 (w/MI)15 years at 3.625%: $1,821.84 (w/MI financed)We can comfortably pay our current mortgage amount as well as the 15 year options, though part of our reason for refinancing is to enable us to eventually move and rent out this property (better cash flow), however now I'm considering is there more benefit in doing a 15 year and building more equity that can later be used to do a cash out refi or HELOC?

If you have started saving you can start to look at buying once you have around 5% of the purchase price.If you have between 5% and 20% of the purchase price, you may need to pay what’s called Lenders Mortgage Insurance, which enables us to lend you a larger percentage of the purchase price.

It will enable you to get into RE investing and have a no rent/low rent situation for you personally.  

I am still active duty military and investing heavily on my time off in an attempt for my passive real estate income to supplement my military income at retirement.  

I am extremely interested in real estate investing, especially the HOLD strategy as a way to supplement income for now.

I'm currently a page designer for our newspaper, but I'm looking into real estate investment as a supplement to my income (better than just letting the markets handle my 401(k), I figure) and maybe a way to becoming my own boss one day.