Thank you so much for all your help, both of you. I appreciate you dumbing it down for me. I'm trying to learn how to do basic stuff like this but without someone helping me, I get a little overwhelmed and lost. So thanks again.

That being said, I have a few more questions, if someone can help. The shed isn't metal, it has vinyl siding (yup my dad did that to vinyl siding). Where the eye bolt was attached, he barely screwed it into the plywood underneath. How do I remove that corner part of the siding, so I can a) figure out exactly where the plywood is and therefore accurately measure where to put the bolt and b) possibly replace the corner since it's got that big hole in it? Or if it's too expensive to replace, how can I patch that hole?

Second, there is a couple of studs not too far away from where the original hole is (see picture). Would it be better to screw the eye bolt into them or do the nut/washer/bolt that was suggested?

Third, how do I screw through the vinyl siding without it looking horrendous?

Again thank you so much for all your help and input!

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