This is not as passive as other investing but it will help launch your portfolio so that you can continue to invest without needing to work additional jobs.

Co-living, on the other hand, mitigates this risk by creating multiple income streams.

I own a small portfolio that brings enough income for me not to have a w-2 income.

You could improve and seller finance the land to blue collar workers that make decent income.

I  Income:  The amount of property you can buy will be dependent on your Debt to Income ratio.  

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A property manager should always account for both income and expenses—you’re the owner, and you have a right to see exactly where your money is going.It almost sounds like he thinks he’s doing you a favor instead of working on your behalf.

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.

To go a bit further into what Dmitriy mentioned, since your IRA earns the income the tax treatment is specific to your IRA.

You can purchase a primary home with seller financing, then rent out the spare rooms to generate income.