If there are hobbies you love, focus on them and maybe they will turn into a business.As far as $4,500 a month being enough to live on, I could absolutely live a great life with that.

wow that medical insurance is extremely expensive..... i seriously do not know why people is hating their w2 ........ i love my w2 just like real estate flip activity , if i only buy rental i don't feel satisfied enough hence i let go my rental OOS right now....... currentlyy i just dont have patient if i see bad looking house with 1980 flooring in santa clara county also with that wood cabinet.....i felt like i want to change everything and make it more modern. my wife also like to re-paint everything so she keep asking me to keep buying flip so her hobby in painting and landscaping is being channeled in reality.....

But apples to apples, you want me to compare your real estate strategy to an index fund which is not a fair or like for like comparison.And do you work in the real estate field at all or as a hobby? 

The learning curve to establish good leases and practices is just too great IMO for hobby landlords.  

And it may wipe out a lot of hobby agents, which is a good thing.

Can’t be a hobby.  

Anyone who defends all cash purchases invest in real estate as a hobby.  

Looking at real estate for sale is a hobby for many people.   

I'm committed to this life, I'm committed to rental income, and I can provide superior service and support compared to any hands-off hobby landlord running rental properties as an alternative investment strategy easily.

As a mentor and coach, I spend a lot of time working with people on what their goals are....and a lot of focus on treating this as a BUSINESS, when most others treat it like a HOBBY.