I HAVE been wrong quite a few times and, luckily, have been corrected by my colleagues in those instances.

For instance, if the exit cap rate is x, am I still making money?

no reason to retitle the property. although I think you have the right to do it in many instances. but why ? 

With SB13 allowing bootlegged safe units and the likely extension to the 5 year window due to the shortage of units, I am unsure there is much risk in the near term.  

Any thoughts as to using the Lease extension vs Lease agreement form?

For instance, if a homeowner doesn’t have the ability to pay for a home, they also lack the funds for necessary maintenance.

For instance, mileage from driving around to view properties for sale, educational expenses like books or seminars, expenses from networking events with other real estate professionals, etc.Hope that provides a helpful example. 

I would not purchase if net rent was 10% of purchase ($70k in this instance). 

For instance I'm not sure if my cash buyer will pay me the option fee before theres even a title search done.

In addition consider other documents you will need to have on hand like Pet Addendums, Notice to Vacate, Lease Extensions, Lease Assignments, etc.