For example buy 300k property, renovate it (pay yourself essentially)  turn into 400k+ plus home, increase rents and cash flow.   

Beware, some blanket loans, despite having a partial release clause, will still mandate you pay 120% of the original individual loan amount back to the blanket upon sale.

If tenants are paying their own heat bill, they would call the gas utility and have the unit put in their own name, but tenants can't do that if the heating unit is shared by all four units.You won't have happy tenants if you are in control of the heat and you aren't even on premises. 

Always pay on time, rarely complain about anything and overall low maintenance for me.

I read some where that I could sell the house to a 3rd party if I do a double closing and pay the owner what is owed to him and take my profit at the same time.

Did the lease specifically say they pay for water? 

Gotta pay $20k to your tenants!

That means you own the home, and the bank owns the note you are obligated to pay to them for buying the cash from them. 

On the PPP, does that apply to paying off the loan in full and/or paying down the loan incrementally during the terms?

Find someone who you know can pay & someone you feel will respect your home.