Our goal is to generate enough passive income that my wife can quit her job and I can back away from my business by hiring people to do what I do and manage it from a far and pull a smaller salary.

One of my contacts here advised me to focus my efforts within a couple mile radius of campus if I wanted to do student housing, if for no other reason than that area will never lack for tenants.

I am hoping to find something that would generate cashflow for the long term.

Or the waste generated by doing demolition.

So you Will be doing some agent work, generating commissions/fees.

Having said that, long-duration (6-12 month) put options, that are out of the money (the market would have to decline at least 5% for them to start generating positive $ returns) are not that expensive.

He can advise you on entity structure as well.I did all of my business with him over the phone and email.Hope this helps,Neisha

Most people would advise you starting with a SFR to get use to being a landlord and to start better cash flow.

My advise to you is check out Zillow.

Don't give up before figuring out how to generate GOOD LEADS ( which turn into DEALS).