For others to weigh in, I would suggest putting some numbers into the scenario. 

The particular unit that I would be living in is about 1200 sq ft while the other units are both much smaller. 

I think this is a great city to invest in. I

I know you mentioned that you are in the California area, is that the market you are looking to purchase in? I

If the owner isn’t ultimately responsible anyway, then putting them in tenants name as a prerequisite to actually moving in is the way to go.

Wade Williams, you really need to start by doing your research about the areas you are interested in. I

What state are you located in? I

However, in my research of the neighborhood the property is in, I found Trulia's "What locals say about (neighborhood)" in which features such as "Kids play outside" and "People would walk alone at night" get a percentage ranking I assume from crowdsourced voting. 

Was renovated in 2009 As someone brand new to real estate investing I'm trying to decide whether this is something worth investing in. I

The first thing you need to invest in is yourself... read every real estate book you can get your hands on until they start to sound repetitive.