A common misconception is that agents are solely responsible for finding deals; that they’ll be out there all day beating the bushes for just you and magically making off-market deals appear that meet all your criteria.

From the details you provided it like you are on a net lease, which is common in the commercial space. 

I also thought about potentially placing about 8 small storage units to give the tenants a place to rent for an extra fee for their extra stuff.Do "dog park" areas or private fenced in areas for tenants vs common open yard space see an increase in rents typically? 

This is, sadly, rather common.

It is important to note that the City’s new ordinance does not alter the ability of common interest communities to prohibit short-term vacation rentals through their CC&Rs or other governing documents and to enforce those prohibitions within their community.

In both cases my wife and I hold the titles in common.

It is very common to buy a duplex for 30k and get 1200 in rent each month .

Water damage is common and expensive.

In my limited experience giving a TA of $$$ at this level of tenant is not very common and suggests they are financial challenged. 

If you'll be occupying part of the property and renting the rest, that also implies it's a multi-family property, which implies there will be common areas that you'll be responsible for maintaining.