This meant I need no down payment and they rolled all my closings costs into the loan.

We already have rolling blackouts.

For me the equity is a bigger deal, as the long term financing limit of 75% LTV for 2-4 unit play a big roll how much trapped cash I have in the property.

Ok, so playing devils advocate (I've always believed in low LTV for safety), and out of curiosity; If you only lose money when you sell and make when you buy, and I have no plans on selling during the downs of the up and down cycles, and if my cash flow is unaffected / unrelated to market value swings, and I keep more money in reserve should I over leverage and push LTV to say 95% - is this a bad thing?

Hard to beat going back to the beginning of the BP Podcast and start from there which will provide you the foundational knowledge needed to get the ball rolling in REI.  

I don't know actually, but I wonder the reason IF...Would a city push something like this in attempt to drive up ownership by raising the barrier of entry/operations for noon owner-occupieds?

As these properties close, they will become comps themselves, pushing values up.  

I’d also consider potentially the 80/20 rule of selling off your worst (you decide: lowest cash flow, biggest upcoming CapEx, neighborhood going downhill) 2 and rolling them into a smaller multifamily (4 doors / 1 mortgage) through a 1031 Exchange. https://www.biggerpockets.com/topics/877606

I do recommend a first investment to be something that you can roll up the sleeves and get your hands dirty with, managing everything yourself.

From the beginning, with the current rent roll, we had fairly thin margins on cash flow.