Lots of content creation.  

But I imagine it will involve a lot of driving all over creation to look at a bunch of properties that won't work, then when we do find one, it won't exactly be a high-dollar transaction.

Ideally, we want to see a variety of major industries and employers within the market, along with business moving into the area, as this is a positive sign that job creation and growth will likely continue.

I prefer single asset entities, but have bought property through my operating entity when the hold term was relatively short.If you are wholesaling or flipping it and will only own it for a short period of time then buying it personally wouldn't be the worst thing (people buy and sell property in their person everyday) but you'll want to at least be aware of some of the potential risks in so doing.If your intention is to hold long term then it might be a wise decision to create a legal entity to take title and operate the property from during the course of your ownership.In addition to getting sound legal advise from an attorney that can help you form the entity (or researching the creation and operation of the entity if you DIY) you'll want to either speak with your accounting or tax professional, or fully understand the accounting impacts of the entity. 

I've always viewed the "lifetime passive income" thing as more of an end-game. ...and doing wealth creation (flipping, appreciation-type deals) is to me, a good way to create the liquid cash to later invest into those income-producing properties.Oahu is a great market for wealth creation, so I take advantage of that.

I love to study the flows of life and the most basic principle in nature is the concept of CREATION.

If inflation results from all our printing of money and debt creation, how much is the USD going to be worth anyway?

Is there a good amount of job creation happening?

Good summary by @anthony dadlani, You objective is another factor, are you wanting to create a lot of cash to live on, or some cash with main objective mostly /wealth building/ asset creation, retiring early with a lot of assets, cash flow in retirement.

The answer: through creation of JOINT VENTURE opportunities.When I started "opening the kimono" and get people to look inside what goes on in my real estate business, that's when I started doing joint ventures with BP members.