so as of now while im riding and stopped at a red light, i can only tippy toe with both feet on the ground. Also while riding on the freeway i feel as if the back is higher because i feel my weight leans forward towards the tank and start to get uncomfortable.
What things can i adjust? and how?

 

there are other bikes for comfort, not sure if anything has been adjusted on your bike
because f4i's are supposed to be somewhat more comfortable than other supersports.
do you have stock rearsets? are you aware you are supposed to support your upper body with your legs?
the f4i uses clip ons, which is basicly a band that goes around your forks and holds your controls.
you can check out clip on risers, that would raise the bar up, but i can't comment on if they would
hit the fairing or not. hopefully somone here can comment about lowering the seat. if you lower the bike it will handle differently

 

previous owner says he has never messed with the shocks or anything. and my rearsets are stock yes. i do not know much about shocks and forks and all that. im clueless on all that.
i have no idea what are risers, im such a noob.

 

If the bike is not adjusted Im pretty sure you can lower it a tad. Look in the manual. Adjusting it is that silver canister on the side of the bike if im not mistaken

 

Decreasing the preload on the rear shock will drop it down lower, the stock setting is 3, I think it goes from 1-7. It's explained in the owner's manual.

 

Yep, 1-7. Adjusted mine a few days ago. You'll want to use a spanner wrench. It comes in the original tool kit.

Something I've found that helps is Stomp Grip; sticky pads you put on the side of the gas tank that give you better grip. The handlebars are a control, not an anchor point. You should always be light on them. All anchoring to the bike should be done with your feet, thighs, and knees. This is why Stomp Grip is helpful.

 

someone here has to be able to comment on if lowering it down 1 click will affect the handling.
but if its too drastic i would imagine that would rake out the front wheel which, if im not mistaken less aggressive,
slower turning in and so on and so forth.
and as for the risers, it would raise your handlebars so its less on your back
i dunno if these are compatible or how to install them but here is some pictures
http://www.2wheelpros.com/images/2362450-1-l.jpg
http://www.2wheelpros.com/images/2362450-3-l.jpg

 

The preload's adjustment on the rear shock has a consequence of dropping it lower, but not a goal. It's meant to be adjusted based on the rider's weight. I'm 130lbs in full gear, so I put it at the lowest setting (1). It had been at 4 when I bought the bike and when I sat down, the rear shock did not compress at all. Going over bumps on the freeway I would bounce out of the seat because the shock was so tightly wound.

You run the risk of bottoming out the suspension if you set the preload too soft for your weight. I believe any effect on handling will be negligible since you're not actually changing the geometry of the steering components, only the tail.

 

i do not have a pin spanner. and do i have to the rear wheel suspended while adjusting? is there a different tool to do this if possible?

 

The rear wheel can be on the ground. You can buy a spanner wrench from just about any motorcycle shop. The numbers should be oriented from 1-7, with one being closer to the ground. Turning the adjuster up (moving 1 up higher) will softer the suspension and allow it to sag more when you sit on it. Turning the numbers down (moving 7 closer to the ground) will make it stiffer and sag less.

What you're basically doing is making the spring more or less compressed in its resting state. At 1, it's less compressed, and requires less force to compress when you sit on it. At 7, it's extremely tightly compressed, and will require a lot of force to get it to compress further when you sit on it.