I would like to draw on my background which includes a bachelor's degree in Mechanical Engineering, control system design, sales and proposal writing.

Buy it at the RIGHT price, control your rehab budget & you will make money. 

I'd love to start networking with other Oakland based investors/RE agents.Any reasons not to buy a multi-family in Oakland these days with all of the rent control issues?

At the 5 year mark I’ll owe roughly $73k and will have paid about $20k in interest, plus $14k of the principal.I have the ability to pay the loan off at any time with no penalties, which I intend to do.The loan documents, or more specifically, my promissory note (loan terms I negotiated) and mortgage (security device to give my lender first lien on the property.

It depends on how far away you are from having the money for a down payment, you might try peer to peer lending like Lending Club or even something like Realty Shares where you have less control over the real estate but a lower barrier to entry.  

You have just as much detailed knowledge, and just as much control over events, in both situations.

The extra work to maintain control and hedge your risks is the key ... leverage with control has great returns, but leverage without control is very dangerous.

I am having a hard time not having complete control of going to see a property without having someone babysit me.

My loan officer suggested creating an LLC and buying houses under the company name and using me as the personal guarantor, thus allowing me to own/control four more.

@Chris IrvinChris, you never get in title with a lease option, you control the property.The best way to get on title is sub2 or a wrap or a land contract, now your exit strategy may be a lease w option or a lease w ROFRSee my BP blog "Make money without banks or credit."