A couple of years ago we met a retired investor who did a 1031 exchange into a vehicle which pays him monthly and will pass onto his heirs.

If you're on scholarship and/or your parents have college taken care of through 529 or other vehicle, AND if your passion is engineering, then I would say go to school, read FI and REI books as a hobby, and then channel that knowledge post-graduation to build the engineering life you want, whether that's your own company, or simply the ability to choose where you work. 

For example: if you are strapped for cash but are able to do some updating and rehab work yourself, a live in flip could be a strong vehicle to start out.  

However, only about 5 minutes from the lake and we've got the room to park a boat and a couple vehicles and still have some outdoor living area.

Ours is about $300-$400 per year depending on how many properties and vehicles are covered at any given time.

@Amy Pfaffman Yes, you are correct that you must have earned income in order to contribute to these specific investment vehicles.

Of course I've dabbled in stocks, retirement plans, & other investments but I feel that I've finally found my vehicle to ensure my future with real estate.

Of course I've dabbled in stocks, retirement plans, & other investments but I feel that I've finally found my vehicle to ensure my future with real estate.

Overall, I've noticed that the people I rent to really do tend to be A LOT smaller and obviously weaker than me, as opposed to the homeowners and of course other landlords I meet.I am also of the opinion that when my tenants see me in my work uniform, pulling up in my work vehicle, and have the opportunity to watch me working on my own properties with my own hands, a lot of class envy really seems to seep away out of the landlord-tenant relationship.

Also depending on what your strategy or investment vehicle you are looking into.