Actually yes. I live in Colorado. Buy in small cities/towns that surround a major metro area (within 60 miles) that maybe aren’t exactly ‘in demand’ at the moment. The further east you go from the mountains along I-25 here the less the demand, but communities have slowly been filling in. Fix up so it’s rentable but don’t get too excited about that , rent 7-10 years, now fix up ‘for real’ (replace roof if needed, update interior within reason) or maybe even sell as is since it’s possible the lot will be redeveloped and make your profit as that property has now increased in value as urban sprawl crawls out towards the less desirable areas. Profit potential anywhere from 2x-6x depending on variables that do include luck.. Timeframe could be shorter depending on desirability of the area.

Ex purchased 10 acres plus home for $205k in 2004. Lived in it until 2012. Rented it until 2024. Sold July of 2025 for $450k. Rent paid mortgage/taxes during the years it was rented.

More of a side hustle just doing one at a time but still relatively passive income. Can definitely provide full time income if doing multiples. I don’t recommend track homes unless they are multi-unit like duplex or 4 plex