I know others do great with them, but it's not my comfort zone.  

Always consider the "worst realistic outcome" and make sure you are comfortable with that.

If you do not feel comfortable walking in that gray area, I would think about just doing a traditional rental. 

If the only reason you're paying this much is due to multiple bids and you are comfortable where you are for the next few months if needed, definitely re-evaluate during your due diligence period and exit if you find you're making a financial mistake.

For only $999.99 you can learn to flip houses in the comfort of your own home.

I live in Maryland but have family in the west central area , so I am comfortable investing .

That margin is too tight for my comfort.

@Tyler Tronson, I am in the same shoes you are!

All the other ideas and strategies are just at a bigger scale, the jump from SF to Apartments is more about capital then anything else for most people and comfort level, ironically enough the same reasons people don't get into RE investing to begin with just at a different scale.

You need to find your comfort level but you are looking for an investment, not a project.Good Luck!