It is kind of hilarious how often rent-seeking behavior is called out as evil when it comes to software companies, but actual rent-seeking with real estate is seen as virtuous investment.
Not impossible in impoverished areas. A rural trailer park, some section 8 housing in a bad part of town, or maybe they scooped up some single-family units at the bottom of the housing market crash.
My wife and I spent around $75K to get approximately $1K a month in cash flow (5 doors, $200 each)...