Hdhomerun and Plex

So for people debating cutting the cord this seems like a good situation. Only question is how exactly does this work?

It seems as though you hook your homerun through the same network and Plex identifies it and the set up should be pretty seamless.

The question is if the above is true, which hdhomerun should I get? The extend can transcode itself and sounds like it might be the way to go, but I have Plex server running on a computer. There are only two of us in the house so I guess I don't really need the four tuner one but maybe if you guys tell me just to let Plex handle the transcoding I should get the four.

Anyway looking for a bit of guidance here...