In my opinion, the more income you have, the higher the allocation should be towards stock / fixed income.As much as you can make real estate passive(Hiring a PM, getting into syndications), there is still a level of work that you need to do.Why spend hours when you already can afford what you can.The extra return isint' worth it.

The person managing it, is a goverment employee it's a sheep compared to deal makers of investment companies. 

A: Landlord has an obligation to provide clean water, suck it up and buy it.B: Hard water is bad for your plumbing, buy it hopefully to decrease future repairs.C: Water softeners, like under-sink disposals, ice makers, ceiling fans, love to break and cost you money.

Read “Real Estate Deal Maker” by Henry Washington. 

What would you make renting by the bedroom?

I decided to change career after having worked with films for more than a decade - and I have always had an interest in real estate.

Don the deal maker :)  this scenario is probably more appropriate for @Chris Seveney sand box but one of my favorites was forming a great relationship with the state manager for a thrift they would feed me their loans in foreclosure..

Let the tenants know how to make rent payments and who to contact with problems. 

We took photos, made videos, and were told that they generally do not pay for electronics like TV's, electronic ice makers, and Air Conditioners since it is hard to prove who did the damage or when it was done.

I began uploading behind-the-scenes film from property inspections, due diligence processes, and other facets of my investment operations.