Just to disprove your theory...by your logic, my first page search impression should be much lower than 80%!  

In areas such as NYC the market tends to be a little lower, from what I understand.

Now I agree the 4 will cash flow better than one will but I also look at it from risk of 4 properties will have higher maintenance costs and lower priced properties tend not to appreciate as well as a higher value assetI am also in it for long game and managing one is easier than 4

Making matters worse, 99.9% of individuals on BiggerPockets who want to buy in distant markets do so because the entry cost of doing business is lower.

A smaller mortgage means lower overhead, which is crucial if you’re worried about vacancies.

Mostly a single ADU added in a single family zone area will add less value than the cost of the hands on addition.Depending on the financing my underwriting with a high LTV (80% LTV) for $200k would be cash neutral at a rent point at about $2200 when allocating for all expenses without including any land value.  

If the insurance is higher, like in a flood zone, or hurricane zone the net will be lower. 

This was my first deal, and house hacking made the most sense because it lowered the threshold for risk in my mind.

Longer tenancies mean lower turnover and vacancy costs, so two single-family homes usually generate more reliable income and higher net cash flow than a fourplex.Vacancy risk: A fourplex has four times the vacancy risk of a single-family home.

DSCR or Fannie/Freddie loans can go up to 75% on single family homes, multi family homes (2-4 unit) max at 70% if you stick with Fannie/Freddie.Other things to consider would be:Paying points for a lower rate vs higher rate with no pointsIf going DSCR - Prepayment penalty term (0-5 years)The lower the loan size ($200-250k and lower), you should consider paying up to 2 points and doing a 5 year prepayment penalty if going DSCR.