There are more passive ways to invest in real estate than "turn-key" real estate and achieve those types of returns, but you will need vet the operators and get educated before jumping in.

Once you have enough properties to support your life style, what is the point of acquiring more?

If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.

It's sparkling crystal clear when he's done in a way I could never achieve on my own. 

In playing with the numbers a bit, I'm seeing a trend of atleast 2% rent to price and (ideally) < 7% mortgage rate needed to achieve a decent cash on cash rate.

If the area can support new construction, determine the best style, size, and type of new build for that area.3.

That could be achieved without spending an inordinate additional amount in cap ex; In fact all I have seen had these items in common1.

Location. 25 minutes to beach, 40 minutes to Florence, 15 minutes to Pisa, 60 miles to snow skiing.  10 minutes to Home Depot style store, etc.  

For the mostly passive San Diego RE investor, you will need to be patient to achieve worthy return.  

I would agree that RE prof status is hard to achieve with a limited number of properties.