kitchen and bathroom rehab - buy&hold

[Kyle M.]

Hi guys, I am looking at a condo that could use some updating in the kitchen, bathroom, and flooring.  The area that I am investing is an upscale area where I can achieve $1,000+ in rent for 1br apartments.  The property that I am looking at is condo that is 800 square feet.

I would like to get some insight on what the best upgrades are for this condo.  I want to get a good rent, but also don't want to spend 30k on all the top quality materials.  I would say if I could keep the renovations under 10k and have it look good, that would be ideal.

My thoughts on upgrades:

laminate flooring
paint cabinets
kitchen island (don't know what to do with this)
new toilet
remodel bathroom somewhat

Any thoughts on what the most effective upgrades are would be beneficial.  Also, what are the best ways to get these upgrades (GC vs. homdepot ect.).  Any guesstimates on what my initial rehab costs would be great as well, thanks!