In a similar fashion, if you can imagine how much landscaping and underground infrastructure is in a golf course as compared to the clubhouse, that will give an indication of why an extremely high percentage of the property's value is allocated to the land improvements.

We still like the old fashion long-term rentals for the consistency and reliability of income.

In a similar fashion, if you can imagine how much landscaping and underground infrastructure is in a golf course as compared to the clubhouse, that will give an indication of why an extremely high percentage of the property's value is allocated to the land improvements.

Lets face it, some 10 or even 20 numbers you could just write it down on a piece of paper or an old fashioned addressbook...You mentioned:  "I'm assuming PM collect the payments, manages the lease, track tenant activities etc." 

But that assumes you have minimal equity within a LLC and you’ve operated the entity in a fashion that cannot be pierced.

Now, to answer your questions here, you cannot own property in the US in this fashion until you are 18 years old.  

Good old fashioned calling someone up, sparking a conversation and finding out their motivation/pain points is definitely more effective than mailers.

@Karan SinghThe good old fashioned way, broker relations.

I also make sure the broker, if one is part of the transaction is copied and make it known in the email that defects exist and spell them out in a neat and organized fashion. 

The degrees I noted will help you generate real estate revenues quicker and in a more connected fashion than a degree in business or finance as others have suggested.