Aside from that, there are DSCR loans out there that cater to first time homebuyers, some that even allow those that live rent free to purchase as well.

Section 8 vouchers pay up to fair market rent.

The rent from this property covers the mortgage.

They raise rents more often than you might/would.

I have had no issues with using their rent collection services. 

Yes, Kalamazoo. 2 bedroom is rented for the next year. $1300/month, tenant pays all utilities. 4 bedroom one is vacant.

But, the self-sufficiency test for FHA loans can be really difficult in SF, meaning that the market rent from units you will not occupy must be sufficient to pay for the mortgage payment. 

I have a client that bought a condo to rent after living there and the HOA ended up outlawing rentals.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

That probably doesn't work well for rents, and the neighborhood will look beat up in 10 years, when almost every house got sold to investors.