The "you net $300k" game -- path to financial independence?

[Aaron Knoll]

Netting $1M is great, but it's almost too easy -- it's very hard to go wrong, it's just a question of how much work you want to do for returns. The "you win the lottery" question isn't all that interesting.

So what about $300k? This is sizable but realistic chunk of cash, that many in our 30's and 40's have already accumulated, either by working for it or through inheritance. Much of it is already invested in a primary home or other investments. To generalize for my generation (mid/late 30's), we are willing to work for ROI, but don't want to be wage slaves forever. We still have day jobs and can't spend our lives driving around rural nowheres-villes buying up all the sub-$30k property we can find. We don't need to build RE empires, and would be happy for stable returns, $100k/yr pretax, and RE wealth to pass down to kids or finance their education. Most of the time, we live and work in suburban/urban markets where all MLS properties are overpriced, cash flow is hard to find, and competition is fierce.

What's the fastest, most stable route to financial independence?