Hi @titan31,
there is no such procedure as such, set in place by SAS. The hotfixes application is "irreversible".
Your best option is to run a full SAS deployment backup before any big change (as a hotfix), and have a VM backup as you actually do.
If something goes wrong, you rollback the VMs and restore the status of the SAS deployment backup (specially interesting to keep aligned your WIP database, metadata and SAS Content Server).
For the future, perhaps you would like to create an image of the middle tier and virtualize that server, so you can tak snapshots as well. But again, your main concern will be just the alignment of the SAS Content Server repository with the SAS metadata and the data in WIP database.