Once the renovation is complete then deciding on the strategy to cash flow your own property (regular rental, STR, MTR) will help you with understanding what's required to cash flow a property. 

The home was a big interior and exterior clean up with minor construction.

Service the furnace, A/C and water heater regularly.

Love that you're educating yourself regularly through BP and books.

I would say that out of all the students in Springboard, less than 5% are actually completing deals regularly.  

Any REGULAR monthly meetups you know of happening in Rochester, Buffalo, or Syracuse?

You can use RentSpree and the tenants pay $49 for the regular or $79 with criminal background check.

Many people say "I know for a fact none of my family has judgments" but family members regularly do not discuss their financial problems with other family members, may be unaware of legal issues and their standing, and there also could be fraud.You should also consider any prior spouses among the parties that ever lived at the property as a marital interest attachs regardless if they were on title unless resolved by express court decree (in which case former spouse should join the conveyance).An attorney is not required - though you will need a properly drafted deed, GITREP form, and affidavit of consideration to record.

Since you're in Florida and the laws are much more fair, I'd be willing to take a chance if his background/credit check came in clean. 

Typically HELOC lenders don't escrow since they're often set up to be in 2nd and rely on the first to check tax/ins more regularly.