Throughout the years, I've done well with sales/commissions and have also built a nice portfolio of rentals that are not producing a good amount of passive income which pretty much covers my monthly living expenses! 

For rentals, I don't focus overly much on schools as the top school districts tend to not produce properties that cash flow often (Riverside, Western Springs, etc).

The auditor tried to tie out the bank stmts to the Excel sheets though and we had to produce all the backup.

What you're going to have to do after is 1031 exchange the profit of the other side into another income producing property.

Those with great wealth can snatch up cheap inventory (stocks or dwellings) when the market is down because they've spent so much time while the market is up accumulating cash producing assets.If you buy smart today, your asset will produce even when the market dips.

My only concern being whether or not they can produce a decent rental income.

I have quite a few Tenants claiming they were denied assistance, but when I ask them for proof they fail to produce anything.

Ian,Rental properties produce rental income, which is considered “passive” by the IRS.

I own 3 properties, one of which is a paid off 1430sq ft SFH and has been a good income producing rental  (rented out for past decade). 

Fannie Mae, Freddie Mac, etc).You can also use a commercial loan to purchase an income producing investment property.