They had to children.  

These would esquire you to spend 5-10x more time on the rentals,  and what if they produce the same or less income after you go out and buy all the furniture and start paying all the utilities.

The property is located in Bloomfield between children’s and west Penn.

Gone are the days of half updated houses with used furniture and cell phone pics.

I would say go the owner occupant loan route to get into something for 3.5-5% down instead of 20-25% that you'd need with an investor loan, but those require you to live in the property for a year before you could rent it out.Airbnb could be appealing also since you'd already be furnishing the place for yourself, could just leave the furniture there after you'd move out.

@Jason O.I've rented to over 700 students (under and grad) and I understand the market well.To do it successfully: time it with the academic calendarSept to May: flat price including utilities and furniture for max revenue, can include a cleaning service to keep an eye on the rental.May to Aug: depends on your city density and the amount of summer classes, increase the price to accommodate the demand or decrease it accordingly.

(I don't have any children to pass it down to, and I can't take it with me, so I'm not concerned about defering it forever.)Also I have ZERO desire to become a Landlord of any kind. 

Cleaning, restocking, rebuying broken furniture, hanging up new art, meeting with a general contractor, etc. your kids will be expecting the beach, and yet you will be hanging up wall art. 

Because I didn't want to.I have no children.

Do the leases revert to month to month if they don't give you notice of if they want to renew or not.You may want to research landlord-tenant laws in San Pablo but I know that in Oakland and San Francisco (where I have my rentals), I would most likely have to pay out a relocation fee if I wanted to sell, which could cost in the thousands, depending on number of tenants, minor children, if any have a disability, over age 65.