Totally agree with you and it looks like I need to get a business license to do the intermediate leasing occupancy (ILO) in SF.

Totally understood.   

Everything in the article makes total sense...wealth building helps through appreciation and debt paydown over time.It makes sense that chicago suburbs with strong school districts perform the best. 

My mortgage would be $2600 total a month, but with the rental income, it would be $1200 from me and $1400 from the tenant.

Yes  I think the best move here is to asses your total monthly debt and see if a cash out refi will help decrease the total interest and monthly debt obligation.

In Britain it's typically split between buyer and seller, 1-7% total, average 4% but with total transaction costs factored in it's actually more expensive there.

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

But in a place like this part of CA were its reversed the land is worth 80% of the total value not 20% like most other areas of the country yet the bank requires insurance for the total amount of the loan even though the build cost to replace is far less..

So the total return is probably better than just the 'cash flow.'

I joined RaiseMasters with this mindset and have been totally blown away with the information I have been able to receive, not only from Hunter, Adam and Cam, but the support and openness from the team has been stellar.They truly have created an environment that emphasizes collaboration.