From first condo to 5-10 more

[Drew Slew]

This post will hopefully both specific and general enough for others to get answers to a broad question that many have - how to have enough real estate rented for enough PASSIVE INCOME to be financially free? Specifically, how do I repeat what I have just bought 5-10x? 

Quick background: 

- im 28 yrs old, NYC work, make 90k 

-just bought my first place, had 30k saved and bought a 700sqft 1br condo (two rooms, so 2br basically layout wise) in Union City, NJ 20mins from Manhattan under asking for 145k. Put down 20%, 30 yr fixed mortgage around 3.5%. 

-Total PITI, tax, HOA fee, wifi, electricity etc ALL monthlies $1100/month. I live in main large room (living room) rented other bedroom in about 10 days after purchase and repainting for $800/month. Thus it costs me $300 a month to live and own a place.

Now, the idea would be to do this every year or so, and have 5+ similar places to RENT OUT. not really that interested in house price appreciation as this place is probably the most stable rental market ever in the US, since its NYC.. i had 50+ people call and try to rent my place since i put it on less than 1000. no work involved. 

Someone making 90k, how do i quickly get to a level where I can actually make money from rentals? 

Could I do better, instead of 1-2 bedroom condos maybe a foreclosure, single family houses, rent out the parking place etc? 

How does one take out that many mortgage, do I create a company etc?

GOAL would be $2000-5000 passive income WITHOUT any work every month. 

Thanks