The husband passed away winter 2017, and now there are two separate families working to come to a buyout agreement of the minority 1/3 interest and consolidate control with the wife's family trust.The property was purchased in 1999 with an assessed value of $700k ($600k building, $100k land).

I want to grow beyond covering all my bills and having a little spending money.

I had looked at it maybe 12 months or so back and the owner was asking $400k which was a bit over what we were looking to spend ($300k). 

You’ll want to spend 3-5k a month on marketing and you’ll want to figure out which type of list works best for you to target.

Usually after spending that much online I have a deal..but am I being too impatient.

We are not looking to make the most amount we can per item (because there's so much) and are not looking to spend time putting individual items up for sale. 

My thought is trying not to spend a whole lot of cash but getting the best I can for what I do spend.

"Site control" (sourcing a new deal under contract) is typically one leg of the stool--the others are capital and experience (such as rehab & project management, etc.). 

Most people acquire older homes, brag about there cash flow of $300 per month but spend over $2,000 a year on maintenance. 

@Sean Moaref If you were going to live in one of the units there are some regulations for LA rent control that I think are quite advantageous when you plan on living in one of the units.