El Niño was on our side as we did roof work and ripped out landscaping overgrowth at the start before we moved inside.

its a classic sub too rip the rents scenario.. and why I personally think Sub too is extremely dangerous for the average seller.. there are NO assumptions any more.. banks dont' do that.your person who is on the loan has now got her credit trashed because of this.. they don't own the home its a nightmare situation.. of the first order.you would have to find the sleaze ball who bought the deal and get them to deed it to you..

Ultimately, I just don't want to see you get ripped off, so the first thing I'd do is inquire more into the LOC. 

There's a really crappy 400 sq. ft. addition on the back of the house that needs to be ripped off and rebuilt completely. 

Moving appliances means moving utilities needed to run them. if you want to move a gas stove, you'll have to rip out wall behind it to re-route the gas line or re-direct a new gas line from somewhere else.

If there are water issues that's potentially a big expense to fix--possibly you'll need to rip up the entire basement apartment and start again for it to be properly drained. 

I was imagining ripping the newly install carpet and then gently pulling up the maple floor.

I have done plumbing projects from small things like installing a dishwasher to ripping out the entire setup and rebuilding from scratch.

Yes you can find cheap technicians but you will get ripped off.

small deals are very difficult for investors.. because as stated if something goes wrong the cost of collection could exceed the investment.. rip it off of a credit card.