Thank you @Jason Rhodewalt In my experience, bay area you can cash flow a tad on day 1 even for SFRs, but you have to look hard and low with a broad criterion. 

Purchase price: $370,000 Cash invested: $110,000 Sale price: $370,000 Purchased this single family home in 2015 in a suburb of the San Francisco Bay Area.

I am located in the bay area.

I currently manager over 3,000 units and over $1B worth of real estate in the Seattle, Portland, and the San Francisco Bay Area markets. 

Just curious I live in the bay area of california its quite expensive here currently i am in talks and have a potential contract with a tired landlord whose ready to go but is not in a rush to sell.

Pete Green with Atlantic Bay Mortgage is the best mortgage broker here at the beach.

Pete Green with Atlantic Bay Mortgage did our refi and he is excellent.

But I have to agree with you regarding the Bay Area itself..

In a market like NYC or the bay area, I could see the demand being high enough from younger recent graduates that this would be possible, but in most markets I think you'd have a tough time finding people to rent by the room for an entire apartment building. 

Seeing as I work in the Bay area, I'm thinking it may be best to look for either a duplex, triplex or 3 bed/ 2 bath home on the outer edge of the bay area (somewhere still commutable) to purchase.