Don't discount that.Real estate remains a valuable investment despite current challenges due to its tangible nature, long-term appreciation, and potential for consistent rental income.

I'm hesitant to set a utility cap, as I worry that disclosing a specific amount (like $500) could deter potential tenants.

Currently my problem is too many potential deals not enough money.

You'll probably need a co-borrower and someone to gift the down payment.There's a Conventional loan (FNMA family opportunity loan) that allows your parents to purchase a home for you (and potentially roommates) to rent while you're still in college.

So as a NON CA world traveler, that was the "feel" of southern CA; tons of amazing potential and weather, views etc but with 3rd world problems that seem to be accepted and ignored by all. 

My question is this: How could we structure an arrangement that would make sense for both my potential partner and myself?

Any sober living investors out there willing to let me pick their brain on how to underwrite a potential deal?

Plus it drives down wages so existing population can’t move up in housing.Add in Airbnb and you drive up housing.Add in tariffs for Canadian lumber 3 years ago and potential future China and Mexico tariffs.  

See, now we removed arguably 90% of those overwhelming potentials. 

If properties in that area tend to appreciate more slowly, especially if you can't start renovations immediately, you may sit on that investment watching potential profits get eaten away at slowly as inflation passes appreciation.