To maximize your "passive-ness", you should consider aligning yourself with an experienced investor that has been around long enough to have survived a few real estate cycles.

Markets work in cycles and the real estate market is no exception.

Real estate cycles and timing helps determine your success.It is usually recommended that you get your financing figured out before you start looking at prospective properties.  

People either get paid bi weekly and want to pay rent with that cycle  or they want to pay later in the month so that it chimes with some other income they get like SSI. 

Hey Bob,I'm not interested in the Bay because I don't believe I can predict housing market cycles. 3 bedroom houses are currently going for over a million dollars here and there aren't enough crazy pills in the world to make me think "Yup, that's a good idea".

This allows the compressor to cycle rather than just running non-stop until it is damaged. 

"Pure speculation" you say, and only need to point back to the early 2000's to see where that type of investing got us.But here's the thing... real estate cycles go up and down.

I think it is a move worth considering at this phase of the RE cycle and with a cautious partner and current financial situation.

I just don't need to.As you seek a group or groups to invest with, be sure to look for ones that have been around long enough to have seen a few cycles. 

Maybe will check back in a while if an explanation miraculously appears.