This is different than how google works because it works by indexing.

In an IUL, they take what would have been the dividend and use it to hedge Index Options.

I also max out my 401k, HSA, and contribute to another index fund weekly. 

Mortgage rates will be back down it's not "if" it's a "When" and that is very soon keep in mind the rates took a dramatic drop end of December into the first 2 weeks of January but it was too short of a window for the media or general public to notice until the 1st CPI index report with "Garbage numbers" so it caused a pull back on the bond market and MBS.There are some loopholes right now in FHA, VA and Fannie Mae since we are seeing more "Margin" built into pricing.

Or I may get a trust worthy property manager, but that cost almost would lower the long term returns to below the S&P 500 indexes. 

as Update to this post from 6 years ago, there are heloc's on owner occupied 2-4 unit properties up to 89.90% CLTV or combined loan to values (meaning multiple loans but all together not exceeding 90% of the value).Terms typically areinterest only first 10 years and drawable from the lineyears 11-30 its Principal and interest payment Prime index/rate + margin (this portion is fixed but prime is not)underwriting is done assume prime + margin + 2% stress test for underwriting meaning if your prime + margin was 10% then your underwriting rate used to determine your maximum line you can qualify for would be 12% rate as an example based on principal and interest payment over 30 years or 360 monthsIncome is the main determinant of your qualification and fico min 680+ is just the min score to get through the "front door,"Maximum DTI or debt to income allowed is 45% DTIMaximum lines on this product go from 500-750k so you can get a decent line size that can actually buy other BRRR's or fix flips and deals.

In all 50 metro areas, home price growth kept up with the 22.7% increase in consumer price index inflation in the most recent five years, and in many markets, home price growth far outpaced inflation.

I love real estate investment and really don’t want to give it up and put my money in an index fund or some other passive investment vehicle.

I know this is a real estate forum, I would put some into the index funds, HYSA and the 529 you mentioned. 

Quote from @Thomas Boyd: Great...thank you @Chris SevZillow Home Value Index