Ideally rent would increase over time, and further appreciation would occur, but there is no guarantee.

EVERYONE, no matter how low their income is, would be guaranteed the "right" to rent ANYWHERE at an out-of-pocket cost of no more than 30% of their income.This would create unimaginable demand congestion in the most expensive areas, as suddenly everyone in the country can "afford" to rent there!

Even if it’s been winterized (cold climates) there is no guarantee it was done properly or before pipes froze. 

The only thing that guarantees the unit will be vacant...is delivering it to you vacant

Guaranteed Repair ServicesOne needs to look for the companies which provide you with a certain type of guarantee on repair works.

Even then though there is no guarantee that when the appraiser for the refinance loan comes to do their appraisal they'll come up with the same value. 

You will probably spend 20% more guaranteed if it is your first house.

Would you recommend buying at the lower end in an area with section 8 renters and getting the rent guaranteed?

I can almost guarantee that your rate will be over what you have been quoted on your 20 year loan however so it is a trade off 

Others on this thread will debate me in this..... but over the long termPrices of property will be higher in San Francisco 10 years from now than they are today.....The best way of Investing in San Francisco would be if the property is already vacant.... set your own market rent and.....Here’s where I will lose most of you...Also if the tenant has a Section8 voucher..... you are not AS restricted with rent control.... you have more leeway with evictions IF you promise the housing authority and courts that you will replace the evicted tenant with another Section 8 tenant.....Plus, (most, if not all of) your rent is guaranteed to come in, even if the tenant loses their job.