E (or the equivalent partnership schedule).An active business files on Schedule C or equivalent, and pays self-employment taxes.

I happen to be one of those people who can walk into a casino and bet on red 10 times and have the roulette wheel land on black every time, only to hit red after I leave.  

Most passive investors will stop there, but there are more qualitative criteria you can look for, like what markets you want (emerging markets), class of property (C+ or better), class of neighborhood (B- or better).

The only concern is it is located in a c or d class area of town.

However there is the chance of higher turn over rate, and depending on where in the country your property is might be lower income class C or D areas.

C+ or better neighborhoodsC.

There is insufficient information here, or in the advertisement, to determine if this is a deal or not.In what kind of neighbourhood is the building located  {A, B, C, or D}?

There is no such thing as balance- Balance is something you get after you have arrived or achieved at your goal whether that be tons of rentals, flips or whatever your goal.During your pursuit of it there is no such thing as balance- That means if you are employed you will be spending an insane amount of time working on your real estate stuff, you will not spend as much time with family friends etc.

Don't count on them year after year, you may get some but I wouldn't bet on it.....  

You may have to replace the A/C or at lease do a pull and clean on the evaporator coil and blower wheel  then run the ozone generator into the duct-work.