Buy a house/condo in a college town or near a military base and rent it out. If you want mostly passive, you can move the entire application, document, and pay

Buy a house/condo in a college town or near a military base and rent it out. If you want mostly passive, you can move the entire application, document, and payment flow online (no paper, no mail, no deposits at the bank). You just need to find a couple good contractors/handypersons. This is my approach. If you want purely passive, hire a property manager. But they will take 5-10% of your rent and sometimes a fee for new listings/leases. This is also best if you aren't in proximity to your rental. Obviously, paying cash is best but if you can put enough down, you can make it work as long as mortgage+taxes+expenses < rent (I'm simplifying, I know). Also depends on how long interest rates stay this low.