Investor Help (NO Ihub questions)

[cintrix]

I think Ihub is really more of a site for active traders or position traders. Not too many long term investors post here. I think you need to be long term for passive income to work.
I don't know Andy Tanner - never heard of him. I'm also not an options trader so can't help you with Iron Condor questions.
Passive income within the stock market would be to buy quality blue chip stocks that offer high yield dividends. I do have some long term holds and that is what I buy. Most of them like VZ are boring because they don't move a lot but they yield a nice dividend. Short term bond ETF's like sgov are also good for passive income. You get a decent yield right now for doing nothing.
Paper trading is fine for learning but don't ever think that if you do well paper trading that you will duplicate it in the real world. There is a whole psychology when you are trading with your own real money vs fake money.
My time machine advice to myself would be to never become a bagholder. Sell and take losses while they are small. But this is advice for a trader, not an investor.
Sorry I couldn't answer most of your questions since passive long term investing isn't really my thing.