You could technically use a conventional loan for house hacking but I would suggest using the FHA and making just a 3.5% down payment and saving the rest of your capital for another income producing property.

Look up the top producing agents in San Diego that are in the niche that you want to do.

Our research produced a $5500 credit.

Most likely he will point to his top producer and say this guy is making $150k, this could be you! 

Also, depending on what the purchase price is, cost seg, may not make sense, because it may not produce enough tax benefit. 

Irrespective, the income every property produces will be considered by any lender if you are using a loan...so, it is important to know what your units are renting for and what your expenses are.There is a benefit to super-analyzing small MF properties like this...you get practice for your future analysis of hundreds of properties and a successful career in the industry as you scale.

To say something like "This investment is expected to produce 12% IRR over a  5 year period" is pretty specific  information for them to make a judgment with. 

All my other properties I have mortgages on so for me I have to make sure I buy properties that will produce positive cash flow after all expenses. 

actually producing reported revenue (although this is not a statutory requirement either), how you use the property, and of course how long you've held it. 

I have a duplex that I am negotiating that has tenants, however the seller isnt able to produce any actual leases.