Actually, I am a newb and she is a mostly-willing supporter of my newly acquired desire to be an REI.

There are numerous ways to save on cabinets and still get the look you desire.

Just understand that as you go down in desirable area, you generally go up in rents but turn-over and risk of damage are greater.

@Brandie Flowers-warren,Whatever your desired direction you'll want to keep in mind the balance between tax advantage, cash flow, and what your muse is.  

Virtually anyone who's fearless and comfortable with risk, with an extra bedroom or couch and a desire to make a couple extra dollars to offset their cost of living can be a part of the "business".  

Hi @James Woods, you are correct that in CA, especially Northern California, the cap rates can be less than desirable.

@Jacob Sanders, your desired ROI is really a matter of preference.

And the more desirable the market, which are the ones folks should want to invest in, then the more competition there will be from all cash buyers and the like and the more difficult it will be.

Our property just became more desirable as more than 50% needed to be rebuilt with setback from the beach.  

By renovating properties that have been neglected, we're taking a raw diamond and cutting it into something that sparkles and people desire.