I kind of wish we would have held onto it because properties have certainly appreciated, but as you pointed out, rents have not which is what turned us off the Pokie market.

Better to invest in a solid, reputable, dividend aristocrat (my stock analogy for TK in the passive RE world, not to beat a dead horse).

I get the Aristocrat II Pale Clay from Lowes for $1 a square foot and $97 install.

Both my brother and I flip houses in Poky.

The NYSE started in 1792, and aristocrat stocks by definition have increased their dividend payouts every year consecutively for at least 25 years and many of them have been around for centuries.

So if you don’t have the time and energy to take on a second job (which it inevitably becomes even just viewing and analyzing properties, making offers, etc. never mind once you actually own it and then the real work begins), I would honestly just stick with something truly passive like syndications, REITs, or plain old high dividend yield aristocrat stocks/ mutual funds, vanguard, SPDR etc.  

You could buy dividend aristocrats and fund the rest of your life with dividends not having to lift a finger. 

Spoken like a true aristocrat!

If investment income is important, look at Dividend Aristocrat stocks that pay healthy dividends consistently every year (DA stocks have paid consistent increasing dividends for 25+ years).

@Jon GormanI suggest a blend of dividend aristocrat stocks, a managed fund (BRK.A and B), and a real estate syndicate with a reputable operator.