@Nathan Faucett I have narrowed my search down for what I want to primarily look for in the price range but I have not taken into account for the class range to be searching for.

I can also set alerts for when the temp setting is at a certain range.

We've thought about knocking down the price to $950 but other houses in that price range are in MUCH worse shape. 

Sell it and buy 2-4-8 properties that are closer to your “safe” price range.

You can still find deals on the MLS, you just need to be on a daily drip of new properties in your price range.

And if so, what is a typical range of cost, assuming that the city connection is relatively close to the park?

The income to expense ratio runs in the 30-35% range whereas its 50-55% in multi-family. 

I am thinking to purchase a property in the range of $500k.I haven’t met with a mortgage broker yet to confirm whether I would be able to qualify on my own or would need a partner for the purchase.

What is the typical target cap rate/IRR range for a hospitality, retail or apartment complex?

I've recently been showing homes ranging from $800k to around $1.4m.