5. Living on the rental income- There are no requirements for doing any of the above once you own your rental real estate you can quite simply just sit back and enjoy the income as it comes in take care of any expenses that are necessary and live on the rental income that you have developed over the last 30 years. You can use any of the above in combination with this but there’s really no requirement that you do so. I do have clients that have amassed their real estate and we’ll just leave it to heirs to figure it out.