Both houses have brand new hot water heaters.  

But, if there were no other factors that indicated that the worker was an employee other than the investor providing finish materials, it's not cut-and-dried that a court would rule this way.Here's more info:http://www.irs.gov/Businesses/Small-Businesses-&-S...http://www.oregon.gov/ODA/shared/Documents/Publica...Personally, I do what other recommend above -- I purchase all finish materials (cabinets, countertops, light fixtures, plumbing fixtures, doors, windows, etc) and I have the contractor provide all the building materials (wire, pipe, roofing material, drywall, paint, fasteners, lumber, etc).To make the process easier for finish materials, I keep a Home Depot SKU list that I can reference when I'm ready to place an order. 

We added good lighting and the tenants find it very attractive.If making it a finished basement, cover it with luxury vinyl plank (LVP) or luxury vinyl tile (LVT) flooring, as @Steve Babiak suggests.

The roof is brand new but the hot water heater and HVAC aren't, so when they go I will likely have to update.  

You are a brand and you have to learn how to market your talentsEvery investor needs to learn how to analyze and decipher income statements and balance sheets.  

Hey everyone I'm Nick, I'm brand new to BiggerPockets and looking forward to meeting and connecting with you all !

Sure, you could hire an interior designer, but then you're paying not only for brand new furnishings, delivery fees, design fees and who knows what other up-charges. 

People in bad financial/career situations see real estate as a light at the end of the tunnel and then when they realize the amount of work required, they stop pursuing it.

We have not yet secured a lender for the rehabbing costs, can anyone shed some light on their experiences and what route they went? 

Retail also has its own characteristics and needs to be reinvented every decade or so to remain rentable and competitive.Industrial too is unique and has its own strengths (easier to manage) and cons (longer vacancies).Each type of commercial is going to require a different style and application of management.You should have a light understanding of the type of CRE you would like to own as you head into the market looking for deals.Personally, I prefer industrial because it's an easier asset to manage and I have a lifetime of experience working in this asset class.That said, and as mentioned earlier, if you head into the marketplace searching for a value add situation then you might want to keep your mind open to various types of commercial property.