They have the right to make it one and will, depending on how your financials look as you report to them every year. 

@Heather Walker I would say it depends on what the going rate is for a property in your area.  5-600 is a pretty penny to be making. 

Also, it depends on how you plan to manage them.

If 4 or less get yourself and FHA low with 3.75% down.Depending on what state you're in you might not necessarily need G (an attorney)H depends on if you intend to "house-hack", i.e. live in one of the units yourself. 

It depends on the city - just go the city hall and ask who can tell you for sure.Every city has its own requirements

I have about 30k cash to put down and looking to do a FHA or conventional loan depending on the property.

In my area, depends on type of rental.

Cap rates have been compressed as prices have continued to rise, but I know there are deals within and even outside of those ranges you state depending on what you are looking for when considering passive versus active investing. 

Depends on what part of the Bay Area you are interested in.

Our twin duplex is rented out and we like both of our tenants as they're dependable, stable, and relatively long-term, at least for the next 3-5 years.