Of course I’m not looking to get rich on this deal, I know small risk is small reward but I think it would be a great stepping stone and I want to take on a small rehab property as a learning experience to gain confidence for bigger deals that need more work. 

If you don't, or you're just not sure, hire a property manager until you gain some knowledge, experience, and confidence.

I'm comfortable with my understanding of the metrics, what they mean and how to calculate them but where I lack confidence is knowing whether the particular numbers are "just ok", "good enough" or "great".

Unfortunately, what that says to me is that they do not have confidence in the underwriting ability of the lenders, which in turn means the end consumer gets to pay for this lack of confidence or the lender's inability to properly underwrite. 

Do this for a week and you will see how much more confidence you get from this.

I’m still terrified, but gaining confidence the more I listen and learn.  

On that point, how confident are you in the rent expectations.Closing costs look a little high, but this varies by locality.I doubt you'll add $20k of value with only $3k of work.

Once one big thing and a couple of the smaller things I have to fix are at least in progress, I will have more confidence in the end date.Matt R.

I’ve always been amazed by the self-assuredness of seasoned landlords.They appear so confident, capable and cool.

Do you do an inspection yourself and just make sure you are very confident that repair costs will come in as anticipated before making an offer?