An architect will also oversee the contractor, ensure quality control, and advise in the bidding process to negotiate the best price.  

Quick/cheap would be to lay it over.Given that it's a basement, I'd be inclined to pull the paneling and use the opportunity to ensure nothing bad is going on behind those walls.

If you go for the price drop and do it yourself, you'll be in control to ensure the quality of work like Scott said. 

As an Army Veteran, naturally I started there and quickly discovered some of the perks.1) Guaranteed rent through BAH - (Basic Allowance for Housing)2) Ability to hold tenants accountable for damages - I'd request information regarding their assigned unit and contact chain of command if issues arise. 90% of the time CoC were willing to get involved.3) Additionally, Soldiers have mandatory housing inspections to ensure cleanliness and quality.

So, my CPA tells me what type of entities to use (I used to use multiple LLCs taxed as S-Corps and now have use a single LLC taxed as a C-Corp) and my attorney ensures that I manage them correctly.

The best way to ensure that your small-business loan helps build your credit score is to understand your loan terms and stick to them, Harding says.

It's your responsibility to inspect the repairs and ensure they were done properly.

The investor needs to proactively manage the PM to ensure maintenance costs are low, that vacancies are viewed as cash left on the floor - and filled immediately with qualified tenants, and more. 

You must take risks, but, ensure that they are calculated risks.Below are some links to get you started. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

So, I added three links of the most popular categories for your review and selection of one or all.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property)http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)Now that you have made the move, below are some links that will help with the navigation of the site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/forums/categorieshttps://www.udemy.com/biggerpockets-real-estate-investing-course/ (video with 64 lectures and approx 6hrs of material)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)Before your 1st purchase, please ensure you visit the below link for some tips.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?