Just focusing on the passive income you want to achieve will leave you chasing cash flow which will have you buying properties in worse areas with harder tenancies that seem to cash flow better, but will have large cap ex.Any time someone asks a question about where to invest and it can be anywhere, they aren't ready to invest and are opening themselves up to every pitch in the world on an area.

This phrase "Are You Leaving Money On The Table" could mean that you may have missed out on money in a deal that was there for the asking.

Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in  CO FLA WA ID MT NV AZ OR TX SC GA VA  one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..

If they pass the screening, also find out who is paying the deposit as that is the person you will be returning it to once they leave.

So, what does this leave the part time investor?  

If they are leaving mid-Feb and willing to pay 6 weeks' rent to break the lease, that is reasonable. 

Anchor I leave in the wall and paint over them. 

Leaving someone a 401k or an IRA is a horrible burden.

I left them recently like many others have in the last 5 months and even though our money was technically an investment and a limited partner contribution, they refused to give anyone their money back even after stating numerous times they would give people their money back if they choose to leave. 

It seems a shame to leave it there empty.