Cost to acquire is ~100k and I plan on spending an extra 15k on repairs. 

Should I replace tiles with the luxury vinyl to look nicer (extra $1k to remove the tiles for such a small area, and vinyl would not be durable) or leave the tiles?

Do you have extra land you can divide and pay down debt?  

It was a win/win because with my guests going to dinner with a $50 gift certificate they felt like they were getting their meal paid for but the owner of the restaurant once told me that my average $50 gift certificate holder would spend a minimum of $75 while they were there on extras like appetizers and alcohol purchases that were typically big mark up items for him.

For background info, this is going to be a rental to students at a local grad school who will prioritize function over aesthetic. 

You could put 25% down and grab some of the extra cash you have and make the place more higher end - can equal higher rents - then sell for more in 4 yrs b/c it brings in more income.

Likewise, your payment will be slightly lower and you can continue to cashflow more and still get some extra money to reinvest.   

I do not invest in RE to have a little extra spending money.  

Having extra liquidity will also help as you may run into some growing pains as you begin your journey as a flipper. 

Plumbing wise city of st pete charges about $1200 for the extra meter and the plumber fee depends on the trench, length and trees they have to cross, I've seen prices in the $4000-$6000 range.