Everything I've read, here and elsewhere, has indicated that the Southern California (especially the OC) market is not ideal for cash flow investing but more so for appreciation.  

I know my situation is not ideal but I am determined!

At that point, ideally I would like to invest in a second multiunit but that's only an idea.

Ideally an appraisal should show the value difference; however, it is not the case.

Ideally I will do all the upfront work and simply bring offers to my employing broker who will take it from there.

Hello Everyone, After listening to Brandon Turner's podcast on BRRR the other day I'm wondering what the ideal market is for this strategy? 

There is always more risk buying a distressed property, and you should take that into account on your offer.I would recommend taking precautions, ideally having someone sleep there at the property during the renovation if people breaking into the property is a concern and it is safe to do so.  

Ideally I'd like to find a turnkey multi family around $100k in a good neighborhood and already rented with good tenants.

The ideal result would be that the SD IRA account gets its money back and any equity in the property is NOT held by the SD IRA.  

Ideally you would like to see a cap rate that is compressing or going lower as that would be an indicator values and rents in the area are rising.