I see you are a realtor in the area, I'm a realtor and live right near pinney library and would be happy to be a second opinion on sell price / appraisal price.Depending on your experience as a landlord with the property I think that would be the tipping point for me.

What tips would you give to a newbie who is looking to turn their first home into a rental property in the next 3-5 years?

(No idea how RI compares to NH or CT as I'm completely unfamiliar with both.)Two minor tips: 1) Try to look where other people aren't looking (as much), and 2) also consider the economic health of any city/town you might buy in.For #1, everyone from Boston looks in Pawtucket, Providence and Woonsocket.

Also repairs would likely need to be done over time and you would need some luck in the values and rents appreciating in the next 5 yearsOne of our clients recently purchase a home for 490k in a good area of Concord 3+2 typical rancher, after renovation we are closing escrow on the resale today for 680k.So as a Retail buyer lets say you could buy that property for 510-520k (not all cash, more contingencies, no "inside tips") and put in the work (70-90k in renovation) to make it worth 650-680k.

I would strongly suggesting working with a CPA who specializes in both international taxation and REI to ensure you don't end up in a tight spot.Thanks for the tip, we will keep that in mind! 

@Steven McCutcheon I confirmed with my lender and it's a conventional instead of 203K, thanks for the tip.

Are there any tips you could/would like to provide for newbies trying to start in commercial real estate? 

This often is a tip off of not legal.   

What are some good tips to find and vet sub-contractors for foundations, framing, plumbing, etc.?  

Are there any tips/advice they can share?