HBR published an interview a few years back concerning demonstrative loyalty of an instance at an international hotel in Mumbai to which employees chose to protect patrons rather than run for their own lives.

But you are investing in real estate and concerned about its impact on your taxes. 

There has been regulatory obstacles, engineering challenges (created by the Pacific Ocean floor’s steep drop-off), and concerns about the impact the infrastructure could have on migratory birds, marine life and fisheries.

You mention you're not too concerned with cash flow- are you primarily then looking to value appreciation, and maybe getting the property paid off as a hedge against inflation?

The strategy I would love to adapt is a 'buy & hold' strategy, because I believe that buying and holding income-generating assests like rental properties is one of the best ways to build weatlth over the long term.The main question of my post concerns defining my own market.

@Ryan Burke why is this a concern for you? 

My biggest concern at the moment is estimating the rehab costs. 

It sounds to me like the seller doesn't want you in the property and that would concern me.

Should that be a concern or should it allay concerns? 

As a former student myself, I’d prefer to live on the West side as well.My only concern about the West side is I feel that the student rental market is over saturated and would be worried about finding student renters each year.