It sounds like you've already got some solid experience under your belt.

Well, this is a wonderful thread.All I can really contribute with enough experience to be absolutely sure of what I say: if you live on the coasts and your spreadsheet tells you your best passive returns over the long haul are going to be in the Rust Belt in cheap rentals, then your spreadsheet needs to be looked at by someone with a lot more experience in cheap Rust Belt rentals than you have.My own take on the musings here of why everyone wants to quit their job these day and its possible connection to young people and their participation trophies, their possible work-ethic failings, moral turpitude, contemptible world outlook, lack of grit, et hoc genus omne...yeah, I know I don't know squat about all that.

Getting your foot in the door is tough, but as I am sure many investors will tell you - the first one always takes the longest to get under your belt, but after that it gets much easier!

Bifurcating the asset and operation, putting the wealth behind an "iron curtain" and arranging the public facing side of things in a manner where it is a conveyor belt of throw-away entities with little to no value stored themself, IS a viable approach. 

I have 2 black belts, one in failure and one in success!

@Andrew Sanders, I do work in Yakima.

Seattle is one of the top 5 least landlord-friendly states in the nation, I'd be as belt and suspenders about my applicants as possible.

I was able to get one flip under my belt this year. 

@Paul Sanders, just a few thoughts. 

When police finally arrived the gang was all gone and police said this happens and finding them is almost impossible as they do not stay at any hotels and drive down from the Carolinas etc. to cause problems and mischief.I came back and took martial arts for decades and made it up to 3rd degree black belt.