But I had unexpected expenses and have put it on hold till next year.

There were unexpected delay on the appraisal (came in a week prior to closing date and significantly short), and lender processing that has put us in a time-sensitive situation.

I hope it works out!  Let

I would however recommend at least making an allowance for the unexpected lease-end.

Or would it be best to start looking into other, small creative outlets to help me generate extra income that I could put towards paying down student loans, and then eventually jump into my first real estate investment?

Some additional bathroom outlets were updated too.

I just want to make sure I'm not going to get hit with an unexpected tax bill later.

And given it is in such poor condition, there is a good chance some unexpected cost will arise during renovations.  

You don't want the PMC calling an electrician for a flipped breaker, a plumber for a running toilet, an HVAC company for a AC duct covered by tenant or fallen off the outlet! 

Need outlets throughout house and grounded.