I really have no idea other than  to guess it's a little less than my own residence out here in California...

I really like the creativity in marketing the property with college groups, great idea.

Through all of my research I still have no idea where to look, who to contact, or how the process begins.

Second, if you buy a property and it is 100% occupied, and you have some ideas for adding value that will require upgrading some things, should you wait until their lease is up to do those upgrades?

Any idea who might without going through private lenders?

Instead of looking for multifamily specifically I am toying with the idea of purchasing a single family and then converting it to multifamily. 

Sure, Rapture sounds like a great idea.

Reserves of 4 to 6 months depending on the size of holding is something that would be a good idea,, you never know when a eviction, turn cost, or unexpected repair is going to be a cost issue.. and new landlords aren't usually prepared for them.

I was mostly intrigued by the potential networking possibilities than the sales pitch... also, I'm trying to ease my wife into the idea of purchasing our first investment property.

I had no idea about the fee, though.