Ended up having to reduce the rent by $100 a month and filled it at the end of December.

You might need to defer interest on the 2nd note or reduce the interest rate.

A house hacker can justify paying higher prices knowing that they will still be reducing their living costs over buying a SFR. 

Anyone who gets conventional financing or has loans on their properties knows the importance of reducing maintenance. 

Reduced maintenance costsIf the building is more efficient, less water (water heating/boilers) and less conditioning of air (HVAC) is needed.

Can you bang one or two of them off, sell it off and reduce your risk?

Hey guys,My partner and I were having a conversation about which approach is better: either buying a rental property or building a complex with the same amount of capital e.g $500,000.To me, the analysis makes more sense to build a property in an ideal city and rent higher than to buy an existing rental property: reduced repair costs, city tax incentives, competition among contractors/builders to build the most units for your money.Thoughts?

We are looking for a property for us to do house hacking, as much positive cash flow as possible (in this market), and use as primary residence to reduce our income taxes (combined income 170k+ per year)We found a house in north Long Beach CA, built in 1930's, asking price $490k.

Lending to LLCs reduces their risk.I'm actually more concerned about the "typical numbers" that you mentioned. 

@Dan Heuschele Mistakenly, I failed to mention that my goal for house hacking here in LA  is to significantly (30%-50%) reduce my living expenses, which I think is a reasonable goal for the market here and given the square footage I would need to live comfortably (I have 3 kids and 2 live at home).