This will come in handy in your case:
int maxsamples = Device.MultisampleCountMaximum;
int res = device.CheckMultisampleQualityLevels(SharpDX.DXGI.Format.R8G8B8A8_UNorm, samplecount);
If res returns 0 then this Sample count is not supported.
Also please note that some options are not compatible, so if you create your SwapChain with:
sd.Usage = (other usages) | Usage.UnorderedAccess;
You are not allowed to use multisampling.
Another very useful technique to spot the problems for those errors:
Create your device with DeviceCreationFlags.Debug
In your startup project properties (debug section), tick "Enable native code debugging".
Any API call that fails will give you an error description in the debug output window.