Could we buy a property > $500k a year out of college with two streams of income?

I am looking for some ideas as I have around 60k of passive income generated from Investment in Tresuries in addition to my w2 income.

I had around $60,000 to invest.I bought 3 cheap/low income houses paying cash.

If it wasn’t disregarded you’d pay double the income taxes.

More details:Mortgage (principal + interest): $2930/moProperty taxes: $15K/yearHome insurance: ~$1K/yrCost of home ownership/month: $4280/yr (not counting for any tax deductions related to the interest and property tax)If I account for $20K of interest and $10K of property taxes as an income deduction, then I can reduce the cost by ($30K x 35%) divided by 12 = $875 per month = $3400/mo cost of owning the houseRental income after 35% federal income tax + 9.3% state income tax = $2618/month (!!)

@Vasudha Chaudhary everyone is jumping on the "passive income via real estate" bandwagon BEFORE doing enough research!

Permitting costs can be reduced for facilities with multiple buildings ongoing as they can negotiate discounts and use a third party to permit that is certified by the state.Now, you do need to transport the home, but here distance is a factor, sure if you are going to ship 100's of miles this can add up but in general there is a service area for delivery at nominal cost.Those designs over 1 story will cost more as you need to rent a crane but that is another area you can manage cost.In the end I am pushing back against a blanket statement that "modulars cost as much and are built to poor quality" because frankly that is wrong.

You don't need to show income history or tax statements to qualify.

I do have a good W2 job and a husband with income as well.

It's a nice/quiet area, so not low income type of rural.