New Investor: Looking for a woosah or eureka moment!

[Ken Alce]

TL;DR: Why is buying a MFH at SFH prices looking like such a bad deal from jump?

Hi all. I'm planning on house hacking and I'm excited, but something isn't clicking re: rental analysis. I'm consistently getting negative cash flows/CoC ROIs despite what I think are reasonable estimates. Conceptually, how can that be?

Median rent in my city is about $1,300. I suspect owning a SFH is slightly pricier than that (mortgage + expenses). If I purchased a SFH and added a roommate at the median rent, the numbers should largely be in my favor just for the sacrifice of adding a housemate. Why does an MFH comparatively look like a loser?

Are expenses on a SFH *that* pricey that I'm not conceptually understanding? Does the average SFH owner really spend up to twice their mortgage in expenses and savings? Are the hidden benefits to homeownership (e.g., tax breaks, appreciation) so overwhelming that the average SFH owner is willing to eat such losses?