I have since retired and my properties provide a nice cash flow retirement.Realistically, if you spend 250k or either a duplex vs SFH, your combined rents on the duplex will be better.  

Why would anybody have installed  2 prong, non-grounded outlets in a house with modern grounded wiring?

Regarding you expenses:Missing CapEx, 15% total combined w/ Repairs.Vacancy might be a bit low (I figure 8%), but this is super local.Water/sewer looks high. $40/unit/month is usually good.

But it sounds like a combination of things could work

They are largely deceptive and misinformed...this is a volatile and unhealthy combination.

Spend close to $200k to remodel, rehab, and furnish this large home in the mid-century modern style so popular in the area.

@Mark Eichenlaub I'd like to take a stab at answering your quistions... for the past 3 years my W2 has been a combination of managing a 700k sq. ft. portfolio of Class A commercial office space, industrial, retail and more specifically, right now 30 credit union locations. 

I live 25 minutes from an area with an extremely hot rental market combined with a housing shortage.  

@Jose Lopez:Repairs and CapEx are way too low. 15% combined is pretty safe.You're forgetting management (10%).Water/sewer is usually paid by the owner of a 4plex.Any other house utilities, like electric for common areas?

I believe there's still huge potential modernizing the apartments in the Bay Area and more millionaires and billionaires will be created from real estate along the way.If now is your first time stepping into the Bay Area real estate markets, what would you do differently?