Assume you rented a house for $2,000 a month. You own the home and it is completely paid off. You also live in another house that is also paid off. Would you quit your job (most likely a higher salary and benefits) to enjoy life and never work again for some money to survive? I would assume a very frugal life.
So I own two homes, though I don’t rent out one, I let my dad and sister live in it rent free. But hypothetically I could rent it out for $2k per month. But that wouldn’t be enough to live on. Between the two houses I have around $8k in property taxes. Paying for maintenance also gets expensive. The house needs to be painted every 5-6 years, annual maintenance on HVAC, and any unexpected surprises. Keeping two houses in a good, non-slumlord state would almost use up the $24k unless you did every single thing yourself. Plus insurance which is extra if you are renting, needing an LLC and basic accounting software like QuickBooks, etc.
So no, I wouldn’t quit my job with a single rental. Plus I have three kids which increases my costs. Just doesn’t make sense. I have thought about what I would do if I didn’t have family to stay in my other house and do the basic upkeep. I think I would find a local handyman and let them stay there in exchange for providing upkeep and maintenance, maybe a few agreed upon improvements where I provide the materials. Would be tricky to work up the lease but possible.