I side with @Chris Parrish, living across from a park is a desirable amenity for families who would use it.

If this is the case, I'd use your desire cap rate to vet deals.  

I understand your desire to find turnkey, but in my mind it is not a great passive income strategy for a number of reasons.  

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.