There are exceptions.  

PadSplit is not passive but it has been a mostly positive experience for me.His numbers seem realistic except PadSplit fees are typically 14.75% (not 14.25%)which is a 12% platform fee and a 2.75% stripe fee to allow members to pay their rent w a credit card. 

This is all true except the no expenses or depreciation part, you actually can do that in an IRA (just doesn't help you personally today) on leveraged real estate because that portion of the income is subject to UDFI/UBIT tax which is calculated after deducting the first $1000 and accounting for depreciation and expenses as it relates to the % of the mortgage. 

I use the exact same criteria for a voucher holder as a non-voucher holder except for income. 

I knew a developer before the exception for being near mass transit planned to build 4 units but was only able to build 3 units.  

With exception of the accountant, these individuals did not go to college with these careers in mind.She can use my properties to suppliment her income without a lot of work and, in my opinion, have a lot of fun doing it.

I agree with everything except the very last statement about paying cash to pay it off.

Except the bank, they loose, because now your partners and you are getting what $ they would have sucked out of it. 

Situated in the heart of the city's vibrant Art District, this 1977-built condo offers an exceptional blend of historical charm and modern living.

Sure, there are limited exceptions but the investors in your shoes are not equipped to identify those limited exceptions.