Is there another household income not mentioned?

The median average household income in the US is 59,039 a year.   

https://www.bloomberg.com/news/articles/2017-10-26...By Patrick ClarkOctober 26, 2017, 2:00 AM PDTRents have increased rapidly across U.S. housing markets as the share of renting households has risen faster than the number of new units.

For example, you could say that household income must be over $XX,XXX which would be above the threshold for receiving Section 8.... 

Life is short.Like all of you, we love rental properties for many reasons including it’s a tangible asset, everyone needs a place to live, it generates passive income so you can reach financial freedom and it’s a proven business model over thousands of years.All that being said, we have limited experience with real estate investing but have been involved with a few real estate investments including the purchase of two vacation rentals, a small office condominium and invested in a syndication outside the U.S.  

Any comment about the condominium market in Chicago loop area?

Our goal (in the interest of brevity, not my strong suit) is to achieve the annual median household salary in the US in passive net income, which allows us to quit working given our tastes and lifestyle.

In my scenario, I am looking into buying a brand new condominium with no sold units yet.

In order to bring my unit up to almost the same shape, it will cost about $25k (update kitchen & appliances; flooring, update bathrooms, dual pane windows, scrape ceilings, paint, etc.)Is it worth $25k investment to upgrade the condominium and then sell (based on the value of the unit in escrow); or should I do the basics (new paint, rugs) and then sell (based on the appraised value)?  

So growing up in a one-job-household made money kind of tight.