MAVERICKbirdyTL;DR: I’ve started engineering my ship. I’m in need of advice on how to best proceed from here. Send help.
I'm not sure if replying to a 4-day old post counts as a necro, but if so, sorry
You've already had some answers pointing you in the right direction with engineering, but they've maybe been a bit more "do this", and not "do this because <insert reason here>".
The first question you should ask yourself with engineering is "Why?". Why are you engineering your ship? Why that module? Why choose that effect?
Some questions answer themselves. More FSD range = less time spent jumping around, so it's a no-brainer. Other questions you need to answer yourself, so you can decide what engineering to focus on.
For example: As Sakashiro said, your shields are very weak. They could be improved by engineering, or by swapping your point defence or KWS for shield boosters, as suggested by Karinka. But, do you need to? Do you have to wait between fights to recharge your shields, or run away from combat? If so, improve your defence. If not, wait until you start fighting stronger enemies, and do it then.
Once you know what you want to focus on, learn to use tools like Coriolis or EDSY to help you compare possible improvements, and Google for suggested builds. Play around - choose different engineering options and compare the numbers. The suggestions from Karinka and Episparh are all good, but it's best to know why you're doing something, not just blindly follow
If you want some specific feedback for immediate improvements:
1) Your shields are very weak against thermal damage (as Sakashiro said), and you'll take a lot of that in PvE. If you don't have problems with your shields then you can ignore this for now, but shield boosters are a big part of any optimised combat build, and you might be better off with thermal resistant engineering on your shields.
2) You don't need point defence. If you're PvE bounty hunting you don't get attacked by missiles much, and don't need to protect a cargo hold full of goods. The obvious switch is for shield boosters.
3) Ditch the spare fuel tank. You already have a big fuel scoop, there's no way you should need another tank of fuel.
4) Don't worry about the Guardian power plant. Your first Guardian modules should be the frame shift booster, and then maybe the shield booster, but for your Krait you don't "need" either of them. The FSD booster is a big quality of life improvement across your entire fleet.
But most importantly of all - just have fun! If what you're doing now is fun, just enjoy doing it! Leave worrying about all this stuff until shooting down the same old enemies gets old, and you want to crank things up. There's no rush
I canceled the jump and looked at the galaxy map. LHS 102 was shown as a system with a class M star. So I performed the jump to see what I would find. And indeed, I was dropped in front of a brown dwarf! But the weirdness didn't end there. The name of the brown dwarf displayed on the HUD wasn't LHS 102 but Gliese 1001 B! 
There was another star in the system, and that was an actual class M. It was more than 10,000 Ls away and displayed as "Undiscovered". Together they were forming a binary pair.
But considering the state of the game, I guess a bug is more likely. 
