If you place the right tenants consistently, you will rarely have problems.Here's a detailed guide on how to screen applicants: Application Screening GuideSecond, consider inspections at least once a year, preferably at the mid-point so you can catch damages before they get too far.

Then use that report as a guide to what else really needs fixing.Also, use this guide to prioritize repairs:1) Health & Safety issues2) Property Preservation3) Goverment Required (S8 and city inspections)4) Marketing negative impact5) MiscellaneousAlso, keep in mind YOU are NOT living in the home!

Can someone guide me where to apply and obtain a license to build this basement unit to an official unit with its address, electric, and other amenities?

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

I guess I like the aspect of having an experienced investor to guide me through the entire process.  

It can definitely be a bit overwhelming at first, but a great way to make it smoother is to build a solid team that can work with you across different states.Having a reliable lender is especially important—they can help guide you through the nuances of different markets and make sure you’re making the best financial decisions.

Many will be well educated on their housing options guided by their brands, teams and universities, and are well capitalized and qualified on a short term 3-6-12 month basis, and I actually had a client purchase a newer townhome in Tallahassee for lease to a football player at FSU..Keep in mind the top earning NIL athletes stretch across multiple men's and woman's sports. 

He's gone above and beyond to meet with me despite him always traveling and has provided me with endless resources like contract templates, guides, calculators and a whole library of books.

Understanding your lender’s required DSCR, typically between 1.0 and 1.25, will help guide you toward the most suitable investment opportunities.

Great people, living-breathing-guiding-you people who aren't bullsh#tters.