If you're part of a couple, you might want that extra bedroom(s) to be not adjacent to your room, so maybe a legal bedroom in the basement or at least a master bath/huge closet between you and your roommies.Regarding rehab.

Dresser drawers pulled out, closets mostly empty, no sheets or blankets on the beds, broken mirror laying on one bed.

Add a closet. 2 exterior doors, 1 interior door.

Also the 2nd house has an addition built to be a closet for a bedroom that is held up by two metal support beams but it still slopes and feels as if you could break through the floor if you jump on it hard enough. 

I know I need a window in the room to make it legitimate and have thought of a few other possible issues (maybe I need a closet, an electric outlet, lights) but besides these things I am not sure what other issues building a room brings up.

we haven't signed anything yet and neither has our property manager signed anything with the tenants accept for screening their rental application and taking the application screening fee of $40 per adult.House we are planning on renting is a 4 bedroom 1954 house with 1 bath in Portland Oregon ( frankly 3 bedroom and 1 media room which opens via sliding door to the backyard but does have a closet).

All, I have run across an HUD owned home in a great neighborhood...1700 sq ft, 2 beds, 2 baths, a rec room, and an office (bedroom w/ no closet).

However, it will always be limited by its size, its lack of good closet space, etc.One issue that is odd to me is that the electrical panel is on the wall in the kitchen.  

A bedroom, by definition, needs to have a closet.

Changes included:-Taking what used to be the Master Bedroom, tiny Master Bath, Hall Bath, and second Bedroom, and creating a gorgeous Master Suite with luxurious bathroom and large walk-in closet.