I am not familiar with who you are working with but always recommend vetting any company deeply before signing and paying -- those companies tend to have a lot of overhead they need to pay - out of your bottom line.

Buyers who pay a premium for living in one of the nicest areas of the city.

If they want to keep paying at 11 percent, good luck to them.

If you plan to be there LESS than 7 years, then I might consider NOT BUYING because if prices stay the same it will take nearly that long to pay down a mortgage enough to cover commissions and closing costs to sell and break even. 

Plus, you continue to build appreciation through mortgage pay down, as well as market appreciation as well.Timing is up to you… now if your potential new investment will cover the higher interest rates you see today.  

An apartment complex or even a small multifamily where 90% of the residents are paying market rent and 10% is legally set aside below market.

Las Vegans Paying Highest Income Percentage on Rent: Nearly 58.3% of renters in the Las Vegas area spend more than 30% of their income on rent, considered "housing-cost burdened."

A vacant month, turnover costs, paying your PM to fill the unit. 

If you have a large down payment (or the ability to cover negative cashflow), the East Bay's appreciation and principal pay-down benefits have been historically very strong compared to other markets.  

Your local S8 Housing Commission should have an info sheet on their website that shows their deductions if landlord chooses not to include electric, gas & water.Even more critical, your $680 mortgage amount, that you appear to be comparing to the S8 rent, should include ALL the other housing ownership costs: property taxes, insurance, vacancy/tenant nonperformance (S8 tenant may have to pay part of rent), maintenance & miscellaneous.Suggest you use the BP Calculator for this.