You can’t get a 1 year extension without a Thai bank account. An O visa is only 90 days. An OA visa is one year but that is not the best visa unless you really like its particular features.
The LTR would fall under the “retirement visas” category and he did mention “passive income” so he did hear something somewhere. Since the LTR is not mentioned on Thai embassy websites (I think) I decided to mention it . . . plus that is my current visa.