Beginner Looking at O/O MFH - New Construction

[Brian E Rakers]

I am just getting started in my investment journey. I am understanding most things but I came across something I could not figure out. I am looking to use a FHA loan to occupy and rehab a home to either rent or flip. I have been using online invest calculators to get a feel for ROI, cash on cash, etc and I don't know how to calculate this one.

I came across a new construction quadplex in an excellent area.  2 - 3 bed 3 bath and 2 - 2 bed - 3 bath.  Quad is listed at $600,000.  The comps I have seen show the 3 beds rent at $1450 and the 2 beds rent at $1295.   The plan would be to live in one of the 2 bed and rent the rest.  Monthly rental income would be $4195 for the 3 units.  

How do I calculate me living in the 4th place? Do I charge myself rent in the equation?  Do I separate each unit as it's own and add the results together?

Mortgage including property tax, ins, PMI, and HOA will be over $5100 for all 4 units.  Not included in that number is PM (5%), vacancy, capex, maintenance, etc. It is showing a negative cash flow but it does not take into consideration my unit. Looking at exact quads sold in the same neighborhood show a total value of $740,000 for the building. I love the instant equity and new construction but do not like the negative cash flow.  

Would the smart play be to sell off the other 3 properties take my $125k and look elsewhere to invest?

Right now this is more of a scenario than a decision I am about to make. Any and all advise would be welcome.

Thanks