It will need to meet all fire and safety codes per your local building codes.Done properly a secondary unit in a SFH is the best method to generate positive cash flow on a otherwise underperforming asset..  

What these gurus never seem to mention however is how someone starting out is supposed to secure commercial lending when the requirements are so much different than residential.

"Get security cameras. 

Additionally, if investing is something they are interested in, it is likely not going to be in note investing or real estate because their likely method of investment is retirement/401k.So, on one occasion, before I even considered seller financing as a viable option, I researched to see who the seller was via public records and whether they owned multiple properties.

But when he said he is gonna vacate the home he had defaults on rent. we have 2 months rent as security deposit , we told them we could deduct that amount on rent only if the house is returned in good condition... when we inspected, the house was in very pathetic state...they didn't inform us about the dog and it wasn't on the lease either but we found that they had a dog and 2 cats...The dog caused much damage to 2 of the doors.

I have secured financing and I am working with @Adam Mayberry on a design now.

These are pretty steep for anyone and that's why Bigger Pockets talks about the BRRRR method. 

I am still in the process of securing a job after I graduate from college either as a real estate agent or W2 job.

If the lender believes they will secure a bid @ auction that exceeds my offer, would they still consider accepting my offer? 

We put 20% down to secure the property.