It seemed a project just the right size for our budget and our skills.

They also come up with a rough budget.

@Miguel Fuentes i agree with @David Pere, we actually make descent money in the military, so if you dont have the monthly cash flow, I recommend you start with getting on a solid budget, putting it down on paper and seeing where your money is going.

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. 

He tells people to use a budget, reduce spending, pay off debt and hold 6 months income in an emergency fund.

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.