It has its benefits for sure, but as with any strategy there are downsides to consider - problem tenants and routine city inspections, namely - I personally invest in STR/MTR properties primarily, or rent by-the-bedroom.

How is your exercise routine?  

Variances are granted pretty routinely in my area, but the burden of proof falls on the property owner to justify why granting the variance won't negatively impact the neighbors/community.

Or, a charging order may be granted.If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).

Buy in often and routinely.

Hot tubs are routinely maintained and covered by STR coverage.Fire pits if properly maintained are also pretty safe.

I'm interested in alternative investing opportunities (properties that don't involve rentals or routine fix/flip) to provide passive income and increased net worth. 

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

While certain routine tasks can be automated, you absolutely have to have your thumb on the pulse of your marketing. 

We routinely send critical notices, including renewals, terminations, inspections, past due rent, and others via Certified Mail, Return Receipt Requested, and additionally by Regular Mail.