ok, so I'm not sure I totally follow... is the extension a tenant option or the rent just bumps up in 4 years?

I appreciate your thoughts/comments on the following items:- I believe that a separate account needs to be setup for Security Deposit and Collecting Rent.

I also know there is no perfect plan to follow when getting started but I'm trying to weigh the pros/cons of going the SFH route (at first), pay cash for the first couple, generate that cashflow and build it from there.

That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersBest of luck to you and look forward to following your journey!

It's much easier to find good rental homes in major cities where you can find decent homes for ~$80-$100k that follow the 1% rule for rent and can cashflow.

She has no intention of following the stipulations in the lease for breaking it (45 day notice, rent due during the notice, plus an additional months rent). 

It's value is strictly based on the comps in the area.What have other rehabbed 4plex's sold for recently?

After the amendment, the insurance company added the following premiums:Optional DeductibleLandlord's Premises Liab.Other Structures CoverageOrdinance or Law CoverageDwelling Additional CoverageProtective Device CreditFrom your experience, are these additional premiums needed?

I've read that a Starbucks will increase the value of your property quite a bit, followed by Dunkin' Donuts.

Oakland has strict rent control laws, like San Francisco, Berkeley, and many other cities, however there is an exemption for both duplexes and triplexes when the owner lives there as their primary residence.