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. 

But this was an awesome opportunity for me because this is my first living situation where I will be on my own (and getting used to paying a rent/mortgage) but this will put my overall mortgage on a 400k house at roughly $2000 a month for the first year!

Less licensees paying into the pot means everyone's costs go up.

., get a higher paying job, work two jobs, go to trade school, get a higher paying degree, live in affordable area, etc...these are things that most of us did).

Not a ton of value-add opportunity, more of a core+ investment in a very small market I'm familiar with - my initial analysis is yielding a 14% IRR & 1.28 EM, so I'm not sure of the attractiveness to investors.

My guess is that you will pay less per month with multifamily than a single family. 7.

I use my license for multiple activities: Of course- comps, when buying and when selling, tax data- to see what I am about to pay when i own the home ( for long term holdings), check the DOM (days on the market) for the subdivision I am either buying on, or when I plan on selling, etc. 

You’ve found the property you like, and the numbers seem to work, but it’s more than you can afford or want to pay.

Make sure the tenants are paying market rent or above, otherwise your loan will be DSCR constrained.

I don't know the rules in the US, but in Canada, you can do that every 2 years and when you sell, you don't pay taxes on the capital gains.