[San Diego] 1st Time Home Purchase: SF or Multi-Unit?

[Kyle Engle]

My wife and I are looking to make our first home purchase in San Diego and would prefer to invest in an owner-occupied multi-unit building. We found a recent property that we could live in, but not be cashflow positive until after Year 5+ (with conservative assumptions). What are the pros/cons or factors to also consider this opportunity? First time posting, would love to hear feedback and route any calculators for this type of option! Thank you.

Property details:

• - 3 unit building (2bdrm, 1bdrm, studio)
• - Rental Income (approx): $5,500/mo
• - Mortgage (approx): $7,500/mo
• We would choose to live in the 2bdrm, which would cut the rental income to ~$3,000 ($4,500 to cover the remainder of the mortgage)

Alternatively, the single-family option:

• -We buy a single-family home and pay the mortgage of ~$4,500.