New MTB rider (defying odds w/ WAL-MART inspired bike) on a budget

I do not own a Walmart bike but I’m also in Piscataway, over by New Market, so I’m in the Preserve often and might bump into you.
 
Update to the project! Went with PNW handlebar, new stem and rockshox recon. Most likely drivetrain next? Thoughts or ideas welcome.
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Is there expense tracking?

Isn't really important, since the effort is educational and enjoyable.
So far with the backstory of getting the bike the cost is:
Bike $50.00
Maxxis tires x2 $80.00
Truvativ Hussefelt Stem 0 Degree $35
RockShox Recon Silver RL $220.00
ROCKBROS MTB Pedals $25.00
PNW Components Range Handlebar Gen 3 $40.00
MT200 front hydraulic brake + Deore rear hydraulic brake + pro service worth $95 + going tubeless = free from bike shop deal, old bike trade in.
Service for adding stem, handlebar and shock $66.00
Total spent on bike $516.00
 
I've been waiting for two Walmart bikes to drop in price, the carbon Hyper 29 and Huffy Crassus 27.5+. Hyper just dipped into sub $500 and the Crassus is back up to $600 from $400 late last year. The used bike market is so soft now that I wonder whether it makes sense for this project to strip the parts and replace with better bits.
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I've been waiting for two Walmart bikes to drop in price, the carbon Hyper 29 and Huffy Crassus 27.5+. Hyper just dipped into sub $500 and the Crassus is back up to $600 from $400 late last year. The used bike market is so soft now that I wonder whether it makes sense for this project to strip the parts and replace with better bits.
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Do it
 
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