This is one of the best kind of players to have in your game. He has learned that any two cards can win in hold'em, and he would hate to be out of the pot if his hand would have been a winner. He will call before the flop with just about any two cards. Often, he will continue calling throughout the rest of the hand until it is inescapably obvious that he can't win. Furthermore, the loose-passive player won't do much raising. Mostly, he calls. An important point: it is virtually useless to try to bluff him — he'll call no matter what hand you represent.
Now here's the really good news: a large percentage of the players you play against in low-limit hold'em games will be loose-passive. They will occasionally catch some miracle draws to make very good hands, but over the long haul, they will steadily give away their chips.
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