In San Francisco, this choice is taken out of your hands and is instead a determination made from and by the Planning department.From an Investment POV, you are absolutely correct that combining the lower and the ground floor units is the best option to preserve your ability to perform a fast track condo conversion and generate the most equity in the shortest amount of time.

But with the ability for sponsors to buydown floating rate caps for the next 3 yrs, it is up to you if you believe their marketing.  

welcome to bp, your sentiment around leverage is 100% correct, and I'd challenge you to follow your own advice and use that leverage to put as little as possible into the real estate rather than the coveted "pay cash for it" or while one can pay cash, utilizing your w2 to refinance is a unique skill and ability you can have.house hacking in the mid west is where its at for sure.

You contracted there home to purchase it without the willingness or ability to close on it and then you tried selling your contract to a party who also did not have the ways or means to fund it (or is very savvy, saw you are not and delayed on purpose to cut you out of your wholesale commission).

Too bad she'll also strip us of our ability to count depreciation against income and uhh, I don't bankrupt the country even faster than it's already being bankrupted

It does come down to your goals, your time to allocate, your business sense, your ability to bring or raise capital, and what you are trying to accomplish.I am personally not a fan of short term rentals, as it appears regulations in many cities keep making it harder.

Build the broadest ranges of skills, knowledge, attitude and abilities and become business lethal.  

What continues to draw me to direct mail is the ability to limit competition.

BP cosigns our ability to operate and vets us both on the phone and online prior to featuring us.

So expect a request for a new frig, new stove, maybe a laundry room upgrade...they will keep coming until you get the ability to say "what you had when you signed the lease is all you get for the lease duration".