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.

Example, if you wanted to be close to the vineyards that are gaining popularity, Sahuarita or Green Valley is where you want to look.

Almost every landlord I know makes their screening criteria more strict as they gain experience. 

My last value add achieved enough equity gain that even with $0 cash flow (but it has some modest cash flow), the return would be outstanding.in general, bad neighborhoods or close to bad neighborhoods do not make decent STRs or MTRS.  

The 10% you think you gained is long gone if you attempt to sell with an active mold issue. 

I'm not looking to scale tremendously, just looking to have enough passive income once the rental properties are paid off that my fiance and I can leave our jobs in the automotive business and find something less stressful and more fulfilling, live a little slower, and travel more.

Even if you view yourself as a passive investor, I always recommend investors take a hands on approach with their earliest properties as it lays a helpful foundation.With respect to turn key operators, I've personally found their objectives to be at conflict with the objectives of investors like yourself.

A spouse  wants $50,000 of the $140,000 value of a real estate property being held in their spouse's SDIRA in Florida- an equitable split property state when it comes to divorce. The spouse who owns the SDIRA will NOT...

If you figure out how much you would need to have passively to just get by bare minimum, and still get the occasional coffee or take out then you can figure out what you would need to buy for property to achieve this.

This will get you the investment at the price you're looking for, while gaining appreciation in a hot market caused by migration and lower prices compared to the rest of the country (Greenville, SC).