I have read tons of books on the subject, but completely understand, $20k in experience is greater than $200k in books.

I probably missed a few deals due to my inexperience.

My rough estimate to finish the house is between $30,000 and $40,000, but given my inexperience, I am not sure how close I am.I have a good friend who is a general contractor and also has an accounting degree.

Or maybe my inexperience didn't allow me to ask the right questions(?)...

Some younger investors I know use perceived "inexperience" and their young age to their advantage to negotiate seller financing because retiring landlords want to help out really hard working young investors like yourself.

Realizing that this was going to be an issue whether it was with these tenants or with future tenants, and also that a lot of this WAS my inexperience (we only had one car and parked in the garage so it was NEVER an issue when we lived there)  I decided to move forward with the parking spot, which cost me $2300.  2 Days before it was set to be installed, I got a VERY long email from the tenant expressing his frustration and lack of confidence that the parking spot would be installed at all, and requesting that I agree to shorten the lease from 1 year to 6 months with a month-to-month option following. 

I guess I could have ask the question a little different but I guess that stinch in the question on being a rookie/inexperience was a little heavy.

You will benefit in experience quickly from the deep resources here.  

I don't want my fear/inexperience to paralyze me from action though.

I used hard money for the first deal I ever did and it worked out well with a few hiccups along the way due to some inexperience.