Anyone acquired a company and run it without being the primary operator?

I am a self-funded searcher and I want to purchase a business because of the cash flow characteristics but don't necessarily want to spend my full time running the business. Ideally I would spend###-###-#### hours a week managing the leaders to OKRs, but have another individual be the primary operator. I imagine this could be the seller for a few years and then transition to another individual inside the business or external.

Has anyone successfully accomplished this? I have seen posts critical towards absentee ownership in general, but would love to see if anyone has actually done this.