Do a perimeter approach.

I suspect you'll find higher concentrations of them inside, or near Interstate 285 (aka "The Perimeter"), the highway encircling the city.Due to high property values and scarcity of small multi-family properties this size in Alpharetta, I may suggest keeping an eye on the Alpharetta market but expect to need to look closer into the metro area...especially if you are leveraging property managers and not self-managing your Alpharetta properties.

On VA Rehab/Renovation loans, do they allow for adding ceilings and drywall to basements (no additional rooms in basement, just adding drywall to the perimeter), do they allow the placement of 1 or 2 egress windows in the basement, and do they allow for the removal of non-load bearing walls (for example to open up a kitchen or extend a bathroom into extra space in a closet).2.

If for some reason I HAD to be investing in the Bay Area proper, I might consider the perimeter edges of Vallejo toward Benicia, but I'd probably rather find something a bit further out --Sonoma or maybe south of San Jose, toward Gilroy. 

I funded in all those areas.. many off of cooper rd which is south of Mcdowell as you know it can be street to street there. but generally if they are nice brick homes those stood up the little wood clap board and perimeter foundations can take a beating.. but anyway..

Kind of tough to find one percenters inside of the perimeter.

The closer you get to the Perimeter, the more you need to know about that particular street and area. 

Also in sink cabinets I caulk perimeter with silicone caulk just in case of leaks.

This is typically done by creating a shallow trench around the perimeter of your structure and apply a liquid termicide (like Termidor). 

In Atlanta, You can't even find a duplex under 300k unless it's in a war zone, inside the perimeter.