Recently puchased the properties, and it's covered in massive amounts of goat heads, or puncturevines.

Since you bought the property correctly (Low) you have enough to pay it off and get cash back for the Rehab, Holding and closing costs ($43K) to be covered by the Refi loan of $140K. 

Roland, I have used the BRRR method to cover our living expenses with a total of about $100,000 invested and then reinvested in the DFW and Houston markets over the course of 4 years, it requires very little time.

Condo insurance only covers from the drywall out, it doesnt cover paint, appliances, flooring, fixtures etc.

From what I'm finding, it appears most of the time the tenants cover all utilities (does this include water and garbage?)

If they have a weakness in residence/rental history, income/employment history, financial/credit history, or legal/criminal history, but generally meet all of your significant requirements, then collect more security deposit to cover your risk.You can download an example of our Rental Criteria, as well as Tenant Screening Questions, from the BP File Place if you're interested in seeing some examples.

My insurance agent called me today to tell me that my personal umbrella policy covers up to 4 units, and that now that I have 7 units, it won't cover any of them.

I stuffed the old vent full of rock wool insulation and covered the end with plastic as we explained the differences to expect to the tenant.  

But she has the income to cover the rent, has a great co-signer and you have set up a buffer system with the double deposit.

Don't feel pressured to start investing when you have no significant capital to invest. 1) You barely have enough to cover down payment and closing cost 2) You are going to use another loan to add capital and 3) You are in a tough market (Nashville); that means you are in a seller's market and could easily get outbid multiple times.