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A wedding/ conference/ event venue is not a passive real estate investment. It is an all-in, totally consuming business to run. An absentee owner would fail. A new venue will take years to establish because of the lead time for planning weddings and events. You'd have to find a way to reach your customers years in advance of the event.
Consider renting vacation homes as a starter business. Or an apartment complex. Something that you can hire out a property manager. Maybe a single tenant retail property like a fast food restaurant or bank. And probably a huge mistake to hire family.
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