I tend to analyze deals with a value add mentality (within reason of course), if the latter happens it's a bonus. 

First of all, a buyer's agent representing you is almost always paid by the seller's side (aka free service to you), so wouldn't be a great bonus to have someone who's on your side fighting the good fight for you.

The 2nd home is listed at $680,000 (wed lay up to $620,000) a large 3 bed with 2 ‘bonus’ rooms downstairs of which one is currently a ‘4th’ bedroom.

Networking is an easy-to-access bonus, both inside and outside of Real Estate with a lot of folks that truly just want to help each other grow.From a local level, we are conveniently positioned between the arguably two most important spots (per the Iowa natives): Ames and Iowa City. 

Bedroom above garage would make excellent office space, which has cute bonus space designed as children's playhouse.

This award rarely goes to Landlords so bonus stars for you! 

If square footage is important Measure "  IE onus on the buyer to measure .. and many times we get that bonus were it was advertised as 1800 sq feet and its really 2100.... this is quite common in the foreclosure business.

I'd recommend offering a move in bonus and try to sign 16-18 month leases so that you don't run into this issue again.

I was thinking I would pay an hourly rate at a handyman rate ($10-15/hr which is normal in my location), but give them a bonus on each completed rehab.

Thus most investor don’t qualify to take this.You can achieve same deduction with 100% bonus depreciation that has no income limitations.