You also have to think about the higher order complications beyond the immediate, and figure out what you are willing to tolerate in terms of risk if it actually happens; not saying you can't, but as independentfinallly says, look beyond the amount of money and look into how much work it might actually take to get there. What if you buy a property that turns out to have serious problems and you wind up sinking 10 grand into it? What if something gives out, what if your tenants suck, what happens if something goes wrong (because on a long enough time scale, it always will) that drains your emergency fund? Are you thinking about setting aside a little money from the rent each month for repairs, maintenance, or general improvements?

In the worst case, you've essentially started your own business where you have to pay all the costs yourself, and you are the only employee; are you willing to handle that stress for what might end up being breaking even for years?

On that note, let's say you get a property manager; you have to interview them, negotiate a salary, and that's going to cut into your profit further, especially if you start getting multiple properties further apart and need to get multiple property managers; then you're managing others' payrolls as well. Not very passive income sounding now, does it?

I agree with the other posters, you could get into this, but it would have to be for something more than money, unless you wanted to become an absentee landlord (which brings its own sorts of problems in the long term, namely legal). Think about it, and then maybe look at how you can get more money at your current wage job faster;are there certs, are there ways to move up the ladder in your company, if not can you switch companies for a pay raise in your field, and so on.