The tile is in the front entrance of the home and acts not only as a nice entrance way to the house but also is there because of a wood burning stove that is there really just to serve as a added comfort (Ski Town).

Units have their own separate entrance, 2 bedroom, 1 bath, large eat in kitchens, living room & dining room.  

If you analyze a property without a clear cut entrance and exit strategy, without a plan, and at the end can't move, it's because your analysis has no purpose.Define your goals ()financial, not "how many properties..."), and analyze based on accomplishing those goals.

It has a separate entrance to a rental unit already (high on our want list), and the property is a sanctuary with stream.

Gives a great entrance to the bathroom and doesn't add much in cost. 

The newly renovated walk out daylight basement is a 3/2, has a separate entrance and driveway and is fully furnished with  brand new furniture, decor, furnishings, linens, etc as a vacation rental which produces $2,000/mo.

Add some landscaping like bushes, shrubs, flowers, or trees to create a more inviting entrance.

Like you said, there's no law against renting out a spare bedroom so you should be able to rent out a separate space that has it's own entrance.

For instance, you can finish the basement and rent it out as a separate unit because it has a separate entrance already.

Cash flow.1 - Find out what the market rents are (in the immediate area...the micro-market)2 - subtract all your expenses/month3 - Net cash flow should be at least <here you fill in the number that your overall plan says it needs to be>Analyze for cash on cash return.Take the AP plus the rehab costs plus any other costs to buy the property, and plan the entrance (purchase) strategy either using:1 - All Cash.