I have the option to invest $40K of my savings into the project and potentially see a modest return (few hundred dollars a month), but I’m unsure if it’s the best use of my funds.

Thank you  I personally refer to this article:https://www.biggerpockets.com/blog/how-to-screen-tenants

First, I went to the lender and asked if we could do a loan modification instead of me shopping around for a new loan that might not be with them at a lower rate and for a modest processing fee they did that.

Books, videos, blogs, and podcasts are all viable options but how much time would I need to devote to this and how much conflicting information is out there?

Content Marketing: Produce valuable content such as blog posts, market reports, or video tours to establish yourself as a thought leader in the industry.

Despite its modest price, the property was ideal for a quick turnaround.

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-teamWhat market are you looking to invest in? 

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

This would be modest build grade finishes, nothing luxurious, but not bargain basement, either.

I think I may have read it - but honestly somewhat of a blur because I've read so many different blogs/articles on the various classes of property to help me not only gauge where it is, but also in setting expectations.