Help me make a decision, rent or buy?

[Valentin Zalutskiy]

Hello Biggerpockets! I'm a new member, have been following for a few weeks now and learning a lot from you guys. This will be my first post, so please excuse me if this is repetitive or ignorant. First off im in Northern California. I have been planning to make my entry into real estate with duplex or similar small multifamily, live in one unit and rent the other. I have been saving, and waiting for the market to become more favorable. Now my situation is changing a bit, I'm getting married, and well, my current living arrangement just won't do haha. So now Im facing a decision, do I rent and burn my money, or do I buy at a super high market? There are no 2% or 1% deals that I have been able to find, (but then again, Im new and just starting to learn) and small duplexes are in the $400,000 range in not so great neighborhoods. I'll be looking to buy in november/december and hopefully will have about 80,000 for a downpayment by then.  Rents will be around 1500 a month. Can anyone familiar with the market here please advise me and help me make a decision. Should I rent and hope the market goes down soon? Or should I go for it? Any advice will be greatly appreciated.