All properties are in good living conditions.Here are the Properties rent and size1. 2bd/1ba  rent $300 per month 1050sqft2. 1bd/1ba rent $325 per month 645sqft3. 2bd/1ba rent $350 per month 1050 sqft4 3bd/1ba property manager lives rent free could rent for $600 per month 1200 sqftThe sellers chose to do low rent because of the neighborhood but each property can easily pull in a extra $100-$150 per month.My question to BiggerPockets is how should I determine my purchase price?

What you said totally makes sense.Do people usually use the cash out refinance option to get the cash to actually put towards the next property as down payment?

If I was an agent I’d buy an hp or something under $1000 and use the extra $500 or so for mailers.

Their experience and history usually tells you all you need.Use those Turnkey companies that no where and the why to invest in their chosen locations that have good looking futures. 

Right now in DFW cap rates range between 4.5% for brand new properties and 6.5-7% for C class that needs some work.2. 1% of the sale price is usual but many buyers offer more and make it nonrefundable from day one.3.

Nick, Welcome to BP. here are 4 local REI clubs you may want to attendhttps://www.meetup.com/New-Jersey-Real-Estate-Inve...https://www.meetup.com/NJ-Flippers-and-Funders-Mee...https://www.meetup.com/New-Jersey-Real-Estate-Inve...https://www.meetup.com/NewJerseyInvestors/The second one has a meeting tonight , they all usually have meetings once a month

I was told by a management company that I have 2 options: paying 3 months extra or pay until they find someone else.  

Phoenix is usually the first stop for people looking to buy out of state - and with a 2 hour flight it's obvious why! 

I have been actively looking on the usual suspects of websites (loopnet, redfin, zilllow) but feel like I still have a lot to learn about particular neighborhoods in the SoCal area.

You can use the HomeSnap App to do this easily.If you want to fix and flip:sell to Investors who like to rent to students because usually they’re not picky on how nice it is therefore you don’t have to make the place look perfect, instead just make it decent before you sell it to this investor.You may make less money this way on the flip but it has the potential to be quicker money and you’ll make some connections with people who will always know that property best cause they live there and it frees you up to be a traveling PT.If you want to fix and rent:Use Homesnap app to find run down properties near campus then fix and rent to students.