A lot will depend on how easy it is to fish wires through the ceilings and walls.

CA prime spots are a long term buy and hold play.. as we know the CA market is subject to some swings in values some can be dramatic.. but over time the state has shown some of the best performance in the entire US... but if your one who worries about value on a daily basis then RE can drive you nuts... if you have a long term investing horizon then you buy and hold and if and when we hit a trough you hold through the trough.. you only lose money when you sell at poor times. 

Been at this a couple of years...talked With a number of sellers...they all seem to think I'm nuts when I get to the part about my offer being 60-65 cents on the dollar...is this realistic?

I think you'll see some functional obsolescence and LBP may be evident (most likely), but management will be the bigger nut to crack.

They were fishing for a price and I told them I need to see the financials first.

Also - " Smile , Keep Eye Contact, (no sun glasses), keep your hands and arms open, turn a quarter or half turn so your back is to the front door as it opens, (Smile and stretch your arms out open in your car just before you knock), stay positive, always be closing for appointment, set appointment for future date, get phone # and cell #, bring paperwork to appointment, ask questions as to what is the most important issue with selling this home, craft your pitch around this answer, close deal, repeat process for next deal "Door Knocking in a nut shell ...You will strike out say 9 out 10 times, so what?! 

If you are willing to go into philly I would look at point breeze, Kensington and fish town.

I would like to go fishing in the mountains of greenland.  

The Brokers can work with you one on one, they are willing to negotiate on commission structure, and you're not a small fish in a big pond.

(I'm an artist and I drive my family nuts with paint colors- for example- I will say 'that yellow has too much blue in it' and they all look at me like I'm crazy.)Best of luck!