If you’re not going to go at least semi-commercial it’s a hobby, a character builder, MAYBE it pays a well as a paper route for a kid.  . 

If it's raw land, they do have the option for a "hobby farm," which doesn't need to produce income.

Or is real estate just a hobby?

That's actually what the law requires (Specifically, Section 183, better known as hobby loss rules, and Section 162, which determine when you get to deduct expenses).

Adding properties is more of a hobby than a goal or sense of accomplishment/purpose/identity. 

This is the table I use for selecting which activities work for REP and MP.Activities that Count for REP and MP✓ Acquisition analysis, financing, negotiations, closings✓ Rehab planning, supervising contractors, buying materials✓ Tenant showings, screening, leasing, Section 8 work✓ Bookkeeping, CPA prep, property-specific travelActivities Countable for REP but Weak for MP⚠ REIA meetings, networking, general market research⚠ Education/training not tied to your own propertiesActivities that Do NOT Count✗ Passive investor oversight (reading PM reports only)✗ Travel not tied to property tasks✗ Generic webinars, speculative browsing, hobby research

But eventually, this becomes a business, not a hobby—you need local boots on the ground.

I think the real estate game is way more beneficial to one's mental and physical wellbeing than playing the stock market where you only sitting inside a house and looking at numbers.So yes, everything you said plus what I said, that's why even I know the stock market can potential yield similar or even better return, I keep real estate my main and stock market as a fun hobby.

A popular budgeting guideline is to allocate 50% of your take-home income to needs (rent, groceries), 30% to wants (entertainment, hobbies), and 20% to savings and debt repayment.

I have been watching videos and learning about rentals since I was about 15 (I know its a weird hobby for a 15year old).