Questions I wanna know before I ask someone in person:
1. If my panel is only 200amp, can we reduce any amps for the bedrooms to give more Amps for the shed?

You have 200 total, entire house draw and draw per breaker different things.

2. Can we add a brand new 200amp box just dedicated for the shed but would be billed on the same electric bill monthly? (might be a eclectic company question)

You CAN add a 200A sub, but you need to understand MAX house draw and how much are you pulling so you can be sure not to overload your Main

3. Can I put the electrical wiring and the Ethernet wiring in the same trench or run them on the fence line to the shed to save from not digging? (Shed is approx. 170ft away from panel)

You can, some electricians will tell you there might be feedback/talkback/chatter whatever it's called usually there's a min distance so up to you really I haven't noticed any I ran an Ethernet on my 220 line no issues.

any possible ideas, or other things to think about please let me know. I don't want to spend $1000-$2000 just installing electric when there might be better ways