We are actively looking for foreclosed properties that need a bailout.

However, Technically you should have filed partnership tax return where he would have recognized his portion of yearly activities and sale at the end.

Our BR house is way more luxurious and has more activities, but our Morganton house has an amazing view and it books more.  

You listed two but in broader terms financing (assumable, owner financed, sub to, fha, new 95% OO LTV that in most ways is superior to FHA, dscr, F/f conventional, NACA, VA, etc), value adds (development including ADU, upzoning, traditional rehab, sophisticated value adds that leverage localized rules, coop/tic, etc),  property types (residential, commercial residential, land, storage, MHP, industrial, office, camping, hotel/motel, etc), passive/active investment methods (GP, LP, REIT, nnn, self managed, pm, flipping, mineral right, lumber rights, etc), residential rent models (LTR, STR, MTR, rent by room, student housing, arbitrage, etc).  

Looking to replace ordinary active income completely with passive income as quickly as possible while managing risk.Rob

I can plan trips a year out and it will likely coincide with an active deal that needs more guidance than my asst can provide.I would add a #6 to your list of positives - FREEDOM!

The Major international border project is nearly complete called the "Gordie Howe International Bridge" This will increase the connectivity between Detroit and Windsor Ontario and create synergy which will change both riverfronts and the surrounding neighborhoods "As one of Canada’s most significant infrastructure projects, the Gordie Howe International Bridge is creating thousands of jobs and driving economic activity today and will serve as an important trade corridor for Canada and the U.S. once complete and for generations to come.

I'd also get proof of their insurance and say it must be active for the duration of their lease...and write rental insurance as part of the lease, so if they cancel it, you can get rid of them.

RE Pro Status supercharges this.If you or your spouse are an RE Pro, your LP investments can lead to depreciation offsetting both passive and active income.If you are not an RE Pro, the losses due to depreciation can only be used to offset passive income—such as income from other rental properties or other passive investments.

Once you've determined your objectives, look for markets preferably close to yours with active job growth, population growth and an economy without too much fluctuation.