We play basketball, watch a lot of TV, and will buy products endorsed by celebrities.

First question....will they allow what you are planning.You will need to pay for roads, septic, water, hydro, TV, Phone etc.Total infrastructure will be your cost.

*Note that I'm not a lawyer nor do I play one on tv.

With that we are doing direct mail, billboards, and TV.

I said why would I do that.. he said  RATS.. there is so much garbage that there is going to be rats everywhere.. these are so bad they would not show them on TV

It's possible that disclosing that stuff won't blow up the deal, but who knows - it's up to the lender.I'm not a lawyer, nor do I play one on TV, just speaking on my past experience buying short sales...

The term passive income would be better applied to note investing in my opinion.As far as "high cash flow with hands off" if you stay up late enough and tune your TV to just about any channel, you will find several "plans" to choose from that you can "invest" in.You sure don't want to invest your money in residential properties like crazy people (like me).  

One of my favorite TV shows.

He wants me to guest on his show and also approached me about a TV show.

That is teh best advise I can offer on that.I have heard their presentation on multiple occasions and have seen it on TV.