If preservation of capital to the highest level is your objective than money market accounts and CDS etc as previously noted all appear to be adequate possible solutions without knowing anything else about your situation.  

Also my objective is to buy an apartment building near the campus.

Some sellers or seller's brokers won't care, others will and, most importantly, you won't care...it's just an objective offer based on your criteria and market data.  

My take is with an expense like this (and other smaller general overhead) it probably won't take too much time and effort to just allocate it across the properties using a reasonable approach in the first place; however, I assume it's pretty de minimis and I wouldn't object if someone opted for a more expeditious approach. 

But, If more people are renting in your area, you live in or near a metro area (maybe your target market is in this area) or If your objective is to scale from a small operation to a mid to larger team i would say go with multi because the opportunity of 10x'ing your cash flow and capitalizing on rents in the city. 

If there are no objections filed the court will grant the trustee's motion to sell (which would likely indicate that the trustee feels the purchase price is reasonable BUT additional offers would be considered while the motion was pending).

No system is perfect, so don't waste your time chasing after the next shiny object.

You may also try calling Keller Williams Chervenik Realty, TLS Property Management, MC Real Estate, Slight Edge Management LLC (quoted me low cost), Tiger Lily Realty, Twin Oaks Realty, E&C Property Management, and BellaDora for large complexes.  

Once you have some basic criteria to compare each opportunity, you will subject is to the test of “If I got everything I asked for, would this meet my objective?”

When you finally talk to the seller you can combat any objections the he or she might have based on false information.