Zoning determines what you can legally rent out, and it varies lot by lot even within one neighbourhood. Confirm with the City of Saskatoon whether the property is zoned for a secondary suite or a multi-unit use before you assume the current configuration is legal, because a seller's description of the property is not the same as a compliant permit.
Ask for the actual lease agreements and payment history, not a verbal rent figure. A property advertised at a certain monthly rent with no lease to back it up is a projection, and a lender underwriting the purchase will want documentation, not an estimate, before adding any of that income to your qualifying numbers.
A home inspection, typically $400 to $600, still matters on an investment purchase, since a structural or mechanical problem costs the same to fix whether you live there or rent it out. Get your hand-reviewed valuation from Joel Dyck.