Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

No agents involved.

But I would remain open to long-term rental as an option as this seems like a more stable option in terms of income, again this may be my inexperience talking.However, I have always  been somewhat risk averse and investing in real estate is always a big venture, in my opinion/experience, in terms of capital.

Even if you want to roll the dice, at least is a calculated risk, not a surprise down the road. 

They should be able to teach you about asset risk, neighborhood risk, lay out A, B, C and D class areas, have stats on delinquency trends, vacancy trends, and other variable cost projections. 

It also is heavily full of risk. 

My goal would be to build an investment net with passive income, de-risking the fact that I am the only earner.  

When they don't pay you evict them as a tenant rather than dealing with an ejectment which I guess can involved more nuanced arguments in court. 

@Brian Rocha It’s clear why most lenders insist on including rehab funds in the loan, and all of our partner banks follow this practice for fix-and-flip loans to minimize risk and meet securitization standards.

Seller was behind on pay HOA payments and in risk for losing the property.