Initially the numbers were 40k for rehab cost Lessons learned?

Luckily I have a local team that is incredible at responding and was able to replace the blower motor at a nominal cost.

Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

And if you do, you are going to possibly sacrifice the value of the tenant that you get for the price that you're getting upfront, and if you're going to lose your tenant that you currently have then you risk the vacancy, having to do a rent turn, and that would come with more maintenance, and many additional costs that you would have To encumber that would most likely far exceed that $160 extra that you were trying to raise in the first place. vacancy means no money coming in, and then your investment is dead in the water.

It's certainly worth the cost of having him review the contracts and inform you of your rights.

Does anyone have a template or method that they use in order to screen tenants effectively in order to reduce the risk of non payment and damage to the property? 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I'm very close to signing up as a VestRight student myself, but would like to have a better picture of how much it's really going to cost to get deals done once I complete the course.

I do not think it would cost too much to tone it down howeverI got a $10k quote (minus fees) from an interior decorator recently to redesign.

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.