For a smaller 12 unit building, however, I would budget quite a bit more - closer to $500-$600 depending on the age of the building and what else you plan on doing

If you take an outright distribution and aren't of retirement age you'll be subject to income tax along with a 10% penalty. 

I would recommend considering population, population age, top employers, supply and demand, and unemployment rates.

However, the age and thus accuracy of these records offered by third parties online should always be questioned since their data is copied from the source.Finally, there is another type of lien record which is not available at the county courthouse nor is it available online! 

If you have the passion and the desire to learn, age is just a number. 

His buddy is the same age and also an investor.

HI Grayson,Your "Good network in Abilene to rent to"Renting to friends and relives is not a good practice in this business.You have to be prepared to run it like a business, because if you don't you will have problems.Other than that, keep learning this business, build up a cash pile for a down payment and keep your debt to income ratio in the zone to qualify for lending.And if you are really interested in this business, start going to local real estate meet ups and make some new business friends (of all ages), because that will help you too.Good Luck!

For me it makes all the sense in the world giving my age.

In regards to being full time in "passive income jobs", depending on what type of businesses you'll be involved with, your age, any active business associated in generating the passive income, etc... there may be ways to qualify as self employed and deduct the cost of your health insurance premiums when purchasing an individual plan. 

@Greg DickersonI like your explanation, but depending on their age I'd dumb it down ever more.