@Benjamin Goodman gives a good example referencing live in flips. 

Buy and Hold investing is a great avenue to begin with as most people live their lives off of residual income. 

It has made me question how can people live the way they do.

., get a higher paying job, work two jobs, go to trade school, get a higher paying degree, live in affordable area, etc...these are things that most of us did).

I live in CA and drove that route for years to visit family in Phoenix, AZ. 

Financial freedom isn't simply about replacing your current income, because inflation continuously drives up prices, making a fixed income insufficient to maintain your standard of living.

Sometimes tenants bite, sometimes they don’t, but it’s worth a shot.Owner Move-In: If you’re planning to live in one of the units, you might be able to legally take it back.

We live in Kihei now since the Lahaina fire destroyed our home, office and an investment condo.

The wear/tear is much less for STR because the guests do not live their full-time.   

I live in the area and just gave up looking for now.