But he said that he wants to replace his half a million dollar career with passive income.

A better approach is to network with other experienced passive investors and review the offering together. 

I recommend looking into passive pockets and the syndication forums https://www.biggerpockets.com/forums/960 for reviews on syndications.

Plus for its high cash flow potential, utilizing a 1031 exchange to reinvest gains effectively made this experiment a relatively low risk for me.

Thank you in advancehttps://www.zillow.com/homedetails/1541-Lower-English-Creek-...This is an easy one to figure outFirst, let me say the property and improvements look beautiful - you did a great job.Cap rates are determined as PASSIVE investments - so AFTER property management fees.  

Starting small through house hacking, long-term rentals, or flipping helped me gain experience without taking on too much risk.

Real Estate is not a passive investment as so many say, you demonstrated you're in it for the long haul and willing to do the work• You learned from the experiences - you took the info from your first eviction and made the second potential eviction easier.

Be passive?

We had just listened to a podcast with Marco from Norada as the guest (Passive Wealth Strategies for Busy Professionals: Demystifying Turnkey Real Estate Investing) and were reviewing the information about the notes on their site.

Big piece for me for this property is to meet the STR loophole hours to make it non passive to help offset my w2.