I develop 4x5 in open tanks with single and multi sheet hangers. You can get tanks and hangers new, but I buy them on eBay. Last year I paid around $12 for a lot of 35 or so single sheet stainless steel hangers. These things are selling cheap these days. B&H sells Yankee open tanks new for $15 or so. (Enter code YATU on their webpage). You need a darkroom that is truly pitch dark, and you really need to have someone who's done it walk you through it the first time to help you establish your movement routine and show you how to agitate correctly, but with some experience it's a piece of cake to sit in the dark and run film.
The Yankee tanks hold about a half gallon of solution, and can handle up to a dozen sheets at a time. I tend to run 10 or 11 sheets at a go with no crowding problems. Much nicer to get ten or eleven sheets than 4, but it does require a DARKroom. I change the chemistry after 3 or 4 runs with most developers; Rodinal has to be changed sooner. I have not tried stand development with this set-up, however- I'd rather not sit in the dark with film for an hour.
I'll second the recomendation for Omega D series enlargers. They are great. The newer D5, D5500, and D6 chassis especially are simple, tough, and dead easy to keep aligned properly. D5's can be had cheaply if you look around; the D2's are great, too, if slightly more fussy.
4x5 is a great format- contact prints from it do look great. I shoot 35mm as a carry around note-taking camera, and for shots that need speed and serendipity. The 4x5 is my "real" camera. Sometimes I re-visit things I grabbed with the Leica, to work those ideas more thoroughly. I sold my medium format gear. For me, it's big or small.