They are an excellent but complex vehicle, and IUL are often called the "rich man Roth IRA" as they have no upper limit on contribution.

It's intelligent to have a safety net, of cash--as much as possible, stable extended family with a residence you can sleep at long term--if TSHTF and your's is not free and clear), a paid for vehicle that runs well, and a hobby.

Do not buy a new vehicle to impress anyone.

Just my 2 cents. in addition you will not see the folks you describing owning any vehicles whatsoever LOL.. you need to be making good money to have car ownership and driving privileges in Singapore.

Too nice of a vehicle spells loan or lease payments, which spells their need for commissions is greater.

Can I do better passively in a hands-off fashion with other investment vehicles such as syndications in this market?

You can diversify into other investment vehicles.

They are selling their house next month that they have about 100K of equity in it, and are planning on paying off their vehicles (about $18K) and keeping the rest for a down payment on a house eventually, but are not planning on buying a house again until they can improve their credit. 

Meanwhile the property is locked up.The property has been vacant for a bit after the bank foreclosed on it, so the neighbors all know it's vacant.While rehabbing I started talking to the neighbors and had their contact information to contact me in case of emergency.I was told that for over a week now a vehicle would come and park on my driveway.  

If the student has a vehicle, their looking for lower rent.