Variables include, personal credit, average property value, lowest property value, highest property value, average property DSCR and individual property DSCR etc. 

Imagine a day where landlords could be competing for voucher recipients because the individuals receiving them are desirable tenants with goals who are held accountable to attend school/training, earn an income with potential for growth, and have a roadmap to financial success.

First, Unless MN is different then 90% of the US, You do not 'own' the HOA, The HOA is a legal entity created at some point in time. you may have controlling votes in decisions when the HOA brings then to a vote, but unless the document created at the time of the formation of the HOA says something differently you are just a unit owner many times over.Second, Depending on how the HOA was set up, The HOA may be under the Direction of a Property ManagerThird, You must follow all Federal,State,Local laws regarding the HOAForth You must comply with all HOA rules  for each individual of your units regardless of how many you ownFifth while it might be enticing to go all Pirate King, remember you have to follow the HOA rules or you may be subject to fines and lawsuits or both (In MD there is a case in the courts where a renter had problems with the unit owner and the the owners of the unit are being sued separately by the tenant.

My question is, in the bay area, if I were to rent out each room individually in a multifamily house, sort of a dormitory, or shared house for college students.

I'd speak with other land-lords on the prospective block or even get in touch with PM in the area to confirm those numbers.

The West half of the park units have individual meters that are billed through the City directly.

I am a believer in surrounding yourself with more successful individuals.

If you can get five individual residential loans vs. a single commercial loan, you can get fixed financing for a longer term.

I'm trying to understand the first tangible building block for my business.

Bottom line, legal entities come in when your net worth becomes significant enough to create firewalls between individual pieces.Avoid large banks and google local banks and credit unions; with a decent credit score you will not have a problem to get a loan in your name on a cashflowing property.