Early on in Act V you'll meet Myriam. After a boss battle, she'll come back to town with you and with then offer her enchanting services. Enchanting allows you to take one (you can't do more than one per item) aspect of an item, such as +100 Strength, and re-roll it in the hopes of getting something better. From my testing, it looks like the item must be Rare (Yellow) or higher for it to be able to be enchanted.
This achievement is acquired after re-rolling one property on each item that you have equipped.
Simple enough, but you will need a lot of crafting resources and a lot of money, some pieces were ~13,000 Gold to enchant but my most expensive was ~25,000 Gold. It is possible that the rarer the item, the more expensive it is, with Legendaries costing the most but I can't confirm for sure if that's the case. If someone else can, leave a comment and I will update the guide!
I believe the resources drop more frequently on higher difficulties, I'm playing through on Expert and they drop quite a lot, but I also had a large amount that I carried over from my 360 save, so it's hard to say how much I got just from this game. Gold drops in larger amounts on higher difficulties as well, so unless you brought in a lot from a previous save, you'll probably want to leave this achievement for when you're mostly done with the game to allow Gold to accumulate.
Drizzle 084 confirmed that Legendaries do cost a lot more, so bare that in mind.
Also, BaronVonBrannan has said that he had problems with enchanting rings that he imported from an Xbox 360 save, so also make sure you've equipped items that you've found since playing the Ultimate Evil Edition.
shinyshirthero has confirmed that items brought over from the 360 version will not be able to be enchanted, so once again please make sure that you're using items that you've bought or found in the UEE.