Advice on starting out

[Kevin Trumbull]

I'll try to be brief.  Looking for some advice on how to start out:

Goals:

• Cash flow focused (SFR or Small Multi)
• 'Retire' in 10-15 years (expenses covered, $7K a month)

Issues: 

• Full time job
• 8 month old daughter
• Barely any free time
• Very little initial investment capital (putting together $20K)
• I live in Monterey, CA area (high entry cost)
• No REI experience

Positives:

• Stellar credit (~815)
• Saving $1500 a month to invest with
• High paying job for 8+ years

I've been doing a ton of research/learning, and my initial idea was to finance a $75K to $100K turnkey from a highly reputable company in the midwest cashflowing $100 a month.  I would reinvest cashflow, and should be able to come up with $20K a year, so I could do 1 turnkey a year... but would take a while to accelerate.

I read another thread where somebody was in a similar boat and they recommended finding a JV with a flipper to help build capital. I'm open to something like that, but I'm not really sure what I could bring to the table on something like that, since I have no time, not a lot of money, and no expertise. :)

Anybody have any suggestions/ideas for me?  I know there are tons of ways to make money in real estate, but I feel like my options are very limited right now.