Total $175.Phases of operation: (Please, this is the part in which I want you to make recommendations and adjustments)Phase 1: - Lease renovated unit without including utilities- Post 30 day notices to all current tenants that utilities will be switched into their names (expect to lose 2 of 5 remaining tenants)- Begin exterior updates in preparation of attracting new tenants, as well as electrical to separate meters.- Separate meters ($3000)- Repair/paint soffits and facia boards ($250)- Remove covered parking, clear waste, and replace with designated parking spots via railroad ties ($500)- Repair broken fence ($150)- Add attractive, low maintenance landscaping to front of building.

My goals are as such: Purchase a multifamily property in Southern California, occupy one unit with my family and rent the remaining out.  

. - the exterior will largely remain the same and the interior will be gutted 100%.

Should I just remain patient and wait for the right place closer to my town?

I remain positive waiting for a reply.

Walk away since there is no room financially if the realtor remains with his client.

That money is liquid, FDIC insured and accessible thru an ATM if you need it.That said, proper asset allocation that matches your timeline is a always good strategy and if you have a solid RE portfolio with tenants who remain in your units despite the economic environment, a recession should be below a few other things on your list of things to spend your time worrying about.In terms of pouncing on a property when the market cools, I'd recommend continued trust in whatever deal analysis method you use.

I have 2 semesters remaining til I get my MBA degree, and I was just curious where a good place to start for me would be.

My issue is with communication, repair response and telling me things are done when they are not done.I am not here to bash any company so they will remain nameless on the public part of the forum but if you PM I will give you more details. 

It will remain a challange for the city leaders and the comunity to work on this issue.