Some objected to buying with a already established corporation because they dont want to inherit any debt or liabilities that corp may have.

Well, in five years, we would like to have established an LLC and a non-profit organization.

It gets hairy when you want to sell one when two are linked because they will often require you to bear the cost of establishing they are sufficiently collateralized.

What is the most economical way to get rid of these hearty weeds and re-establish the St Augustine?

I would question the reserves you've established for vacancy, repairs, and CAPEX.The comps you quoted require the same level of repairs to make them rent ready? 

Usually I will look at a certain area, establish kind of a range of values for that area, then start looking for prices on the low end.

Older, more established neighborhoods: Land-locked so no new supply is coming but demographics seem to be slowly shifting and schools are going downhill.

An emerging market is generally a market that shows characteristics of a well established market but is not fully developed yet.  

The CFPB avoided many of these issues in the beginning as they were the first agency to build itself on a technical platform rather than a heavy sided human resources basis.In the past agencies were established by filling positions required for the jobs or functions required then hired out technology to fit the needs of workers.

Did you have an established relationship with the bank or did you have a substantial down payment?