Some other basic steps are pay of high interest rate credit cards, student loans, and any other debt, set up an emergency fund, and buy some life insurance. 

However, it’s basically wasted space at this point and is about 1000 sf or maybe more.

Basically treat this like any tenant who tells you they are just choosing to not pay rent.They are probably hoping you give in and let them use the deposit for the last months rent which is obviously not recommended.

I have seen plenty of posts discussing growth in the area and some basic analysis shows that properties are certainly priced favorably (price to rent ratio, etc.) when compared to my home market.

The cost versus rent income is poor your cashflow is basically nonexistent the sellers terms really suck and you’d have a lot of risk to get the place where it needs to be .

Wanted to introduce myself ...my name is Isidro...i am from California, i recently got offered an opportunity to get into the real estate investing by my landlord...he has been doing this for about 15-20 years and offered me to work with him...basically i find/generate him leads...he puts 100% of his money, we buy homes cash, if i work on rehabbing he will pay me an hourly rate, and in the end he gives me 40% of the profits...sounds like a fair deal to me since i have 0 liability, i am not using my own money and he is an experinced investor.

Basically you need investors who have a lot of cash parked in a money market and aren't sure what to do with it --- the stock market is volatile but they know their savings are losing value every month because of inflation.

In regards to learning how to determine what needs to be done, any advice on turning to online courses to learn the basics?

You are in a situation that comes down to making a basic business decision.

The $5k to $10k difference is basically your GC's overhead and profit to manage the project and make it worth their time.Here's what I would expect to pay if I managed it myself:KitchenCabinets Material: ~$4k or lessCabinet Install: ~$1kGranite Countertops: $1.5 to $2kSink & Kitchen Faucet, Disposal, DW & Ref Hookup $500Appliances $2kFlooring (200 sf x $6/sf) = $1,200Electrical/Lighting = $500?