if you are a beginning rehabber, this is a deal i would avoid, (unless you have experiences in other related areas or have researched this extensively or have asked experts i.e. structural engineers for their input), as 1) you don't know the prices your contractors would charge2) the estimated rehab costs are lumped under general categories (i.e. concrete, plumbing, electrical), but do you know which specifically/exactly you need to fix?

Remember, if the LO isn't fully compliant with law, the tenant gets to sue for every single dollar paid under the LO back, plus treble any other economic damages, plus mandatory attorney's fees.

.- Landscaping, add nice garden up front, trim trees, remove overgrown vines from house siding- Remove old walkway and replace with new right angle walkway to driveway instead of street- Fix up front porch, new concrete probably- Repair any problem siding- Flooring has some unevenness, joists in crawl space/basement need to be added or adjusted.- Exterior paint, interior paint - HVAC and water heater appear new, roof appears new- Interior has some water stain marks, replace drywall patches- Replace kitchen with modern cabinets, granite, appliances- Oak floors downstairs hopefully can be refinished- Replace carpet upstairs with composite flooring or nice carpet - stairs are carpeted!

There is a small concrete rectangular channel that separates the 2 homes (it's in a subdivision). 

The different opinions and experiences, whether positive or negative, are really inspiring and help me a lot to take the first concrete steps in the real estate industry.

I've done my due diligence following the forums, listening to the BP podcast, and reading many of the books recommended here, but still somehow feel like I'm not fully sure how to actually apply all the general lessons to concrete, actionable steps now that I'm looking the potential deal in the face.

The living shed is installed on concrete tile like bricks in the backyard and if thoroughly hooked up with wires and is also hooked to main line of the home.

Although the previous owner never had any issues with the city, I'm not sure that is concrete proof there won't be any issues in the future.

You'll also want to check with City zoning to see if there are any other things that must be done to the property before leasing to a commercial tenant (think ADA, etc.). 

I plan to hire a smaller contractor to handle the job and purchase the materials for them, also probably sub out items they are not good at like landscaping and concrete repair.