I use the spreadsheet to create a detailed budget and scope of work for the contractors.

Seems fairly reasonable if you budget other income for the final payment.A huge benefit here is that the property goes into your regular portfolio instead of remaining in your SDIRA. 

Putting aside his main teachings of budgeting, not getting into consumer debt etc. 

Luckily I budgeted this money being spent on his housing but it is unfair to have to pay for something you are not getting to use. 

That way you will have an insight into how fixing houses works with permitting, city codes, sub contractors, project management, and budgeting repairs. 

I decided to fully restore and renovate the house without knowing how to work with contractors, budget the project, or evaluate the cost vs. income potential.

I would recommend that you spend a decent amount of time and budget (you do have a marketing budget I hope) on social media marketing.

I budget for 15-20% maintenance on a building 100 years old; vacancy is again a wildcard, as your vacancy will be much higher until the property is stabilized; for stabilized, I would go 5-10%; capex another 5%.

Eventually through all the improvements the all in budget was 240k, which was still great.

It is very difficult to find any investment properties that cash flow (especially with my limited budget), but learning more about the house hacking made this realistic.