The following clauses in the agreement seem a bit weird to me, are these normal:The Property Owner shall obtain and maintain full control of renewal of property and liability insurance coverage naming the Property Manager as co-insured, including fire and a minimum of $100,000 liability coverage; the Manager has no duty or responsibility with respect to any insurance coverage.In the event the Owner enters an agreement for sale of the property, or an agreement to list the property for sale, Owner agrees Manager may terminate this agreement immediately, without any advance notice to the Owner.This Agreement may be terminated without cause at any time by either party with a sixty (60) day written Notice of Termination.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Stay in control and keep maintaining the positive attitude you are demonstrating you will get through this!

Check in contracts and any city rent control items.  

But you’re not one of the executors and have limited options because you can only control what you do, not someone else…and you probably need the agreement of both executors to move forward, which might be a problem.

Another example: during the recession, there were some metro areas that depreciated significantly, but within those metro areas were certain neighborhoods (often the A neighborhoods) that didn't depreciate at all--or that even appreciated.So, the macro data you typically encounter can be useful, but it often doesn't tell the whole story.To be a successful real estate investor, I need to understand my city like the back of my hand--with significantly more precision than what macro data would convey. 

Your .4 FAR for the lot still controls overall though.If you do this you could later condo the lot and sell one of the units and keep the other as a rental, or sell both separately.Some other things to consider: Once you go over a certain bath count (3.5, I believe) there is some scrutiny on the water lines from the city so keep an eye on that.  

But you’re not one of the executors and have limited options because you can only control what you do, not someone else…and you probably need the agreement of both executors to move forward, which might be a problem.

Another landlord friend said that SFH in S.F. aren't under rent control and if there are roommates, the current tenant is the Master Tenant and a lease is drawn up with the roommates not with me the landlord.

Make sure that you have control over all of the bank accounts and that there are no additional funds that are in a bank account of theirs to which you do not have access.