You're never going to be 3% financing and if it cash flows, I would lean toward keeping it.

It is hard to pin down specifically, but that seems to have been a factor in a few of the ARV-Appraisals that I've seen and has impacted the refinancing process.Otherwise, it has been a great market for my clients, great cash flows and repeatability which has really helped as they have scaled.

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

Getting a property with a 3% mortgage that offered both equity appreciation and solid cash flow is what sparked my passion for real estate investing.

That one month of lost income will take seven months of cash flow to recover.

Are you primarily looking for cash-flowing properties, distressed deals, or value-add opportunities?

You are correct that putting 3.5% down on a fourplex likely won't cash flow after one year.

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

Also, if you focus on the fundamentals of the real estate, particularly with SFH's the cash flow is truly secondary to other benefits.

If your goal is day-one cash flow, the current high interest rates will make it very difficult.