My understanding, however limited, is that "property" means something different in this context. Essentially, it means things like real estate and businesses, things that make money. You can own food, clothes, a TV, watches, a car, whatever you want, as long as it doesn't make money.

If you wanted to start a business, you probably could, and you wouldn't need to pay for it. The State would own the business, and you would be paid to run that business. This absolves you of all the risk associated with it, and you get paid more than a grocery store shelf stocker because you're doing a harder job, and thus demonstrating greater ability.