Which is why they're still vacant lots - until the logistics change, or are taken on by either of these two groups: ignorant wannabe moguls (soon to be bankrupt), or, rich couldn't-care-less show offs! 

You won't pay I need it now homeowner prices.Or, you can buy out of state and get taken to the cleaners on almost every repair bill you pay for because you're the out-of-state rich dude buying up local property and nobody gives a dog turn on the sidewalk care about you. 

I would try getting a duplex with 3 bedrooms on each side and rent each room for $500 per month to rich college kids getting their rent paid by their parents.As for the $1,000 per month for every $100,000 in purchase price, that's going to be extremely rare.

I want to build passive income and be more aware of how to become rich.

Like many others my interest was sparked by reading the book "Rich Dad Poor Dad".

I strongly suggest refreshing yourself on Robert Kiyosaki's Rich Dad, Poor Dad and Cash Flow Quadrant.

@Rich NgThank you so much Rich! 

@Wayne Brooks @Les Sechler @Rich BaerThank you all so much for the responses, however I will admit I am more confused than ever.

Just came out of the Rich Dad's/ Legacy Education 3-day seminar where they tried to sell me really expensive packages.

Not easy, but you'll get rich if you are successful - a vacant house is un-loved and abandoned house - focus on this and you will make money!