And in the case of a second home where you cannot rent it full time, you'll have those additional non-income producing days to bear as well. 

Follow-up and go on appointments Anything outside of these 3 things is not the best use of your time and is just busy work if you are not producing - i.e. working on your website, ordering/designing marketing material, social media (unless you're using it to actively engage with prospects), procrastinating, watching youtube or other training material (training isn't bad but role play is way more effective), etc.Some actionable steps: - Make a list of EVERYONE in your personal circle!

@Travis Frenchak I hear ya I'm just tired of capital sitting in savings not producing any return.

You just need to ask yourself based off your current situation, what's the best path forwards where you come out on top and potentially with some income-producing real estate!

But I've learned the benefits are certainly much greater with a national/global referral network, opportunities to work with other agents and even trade investment deals with that network, now I can learn the commercial side, the ability to build a local team without a broker's license, revenue share is an interesting income stream where you succeed when you help the organiation you build succeed, the ability to earn your cap back as a top producer, etc. 

Would it be smart to invest all of our savings into a project like this if it isn’t producing any passive income right away?

While 55 might feel old, truth is life expectancy has increased such that you can plan you have at least another 30 years to invest and even more importantly you need to invest and produce income for the next 30 years to maintain a comfortable lifestyle.So there is plenty of time to get it done.

That leaves 4 units I can immediately start renovating to produce additional cashflow immediately.

On the passive side: REIT, NNN, joining SyndicationsIn the middle (not passive, but attempt to minimize the work): turnkey, multifamily with a PM, SFR with PMLabor intensive: notes, self managed buy n hold RE Most labor intensive but opportunity for highest returns: Value adds, BRRRR, wholesale, being the syndicator, being the developer, flips.The last category requires work, but can produce returns in a different league than the stock market. 

Keep in mind I have spent Thousands upon thousands of dollars in marketing of one to produce what some people would consider a no money down deal.