Taking action is obviously important but doing it blindly is VERY dangerous. 

You can get properties pretty cheap but you are going in completely blind on if the property is occupied, the condition, and any other things that would be typically found through title or an inspection.

Maybe it is perseverance or blind determination, but whatever you call it, that is the most powerful thing I learned. 

That's where the experience comes in.....if you have someone in that market that has a "great team" already in place and you can use them, then fine....but if you are flying blind from the start, this is a very risky first move

And that's better for you to lose just a little money than all the money you will lose if you close on this deal.As suggested, you really need to do more research on understanding the BRRRR strategy before just blinding jumping into it. 

If you can't answer these questions confidently, you're investing blind without a cane.

The report is a best case scenario, but seeing as how I've never actually gotten a hard money loan before, I am a bit blind to that area.

List of items to be done - (inspection next weekend)HVACAir Conditioner addition to current forced air furnaceElectricalGarage door motor to 1 car garage door Install recessed lights in living room, and new light fixtures in bedrooms, living rooms, kitchenReplace light switches/outlets to square plastic whiteFlooringRemove carpet, tack boards one main floor and top floorInstall vinyl plank flooring throughout main floor Same baseboardPaintingPaint all wood trim whitePaint kitchen cabinets whitePaint all wallsStructuralRemove half of kitchen wallSliding door for half bath on main floorKitchenReplace kitchen counter top, and match bathroom vanities with sameReplace kitchen sinkReplace appliances with stainless steelBathrooms Replace countertops with same kitchen counter materialGeneral workInstall window blinds on all windows

Then she wanted to replace all the blinds to the style she likes (she did say she can pay for it), and she tells us that she has lung disease (she is 65, retired and has a court order where her ex-husband paid her significant amount on monthly basis).The realtor who has been on all the communication above told my husband she felt this woman would eventually bring a lawsuit to her and my husband.

Your local REIA has lady investors.Get your RE license, lots of lady agents.Ask your friends for blind dates.