Flipping a foreclosed house in New Jersey (Detailed)

[Alex T.]

Hi, I'm a first time house flipper and just bought my first foreclosed property for 108k. The comps in the area are anywhere between 200-220k. Ive been meeting with contractors everyday, but don't really know whats a good deal and whats not. 

Since the house is a foreclosure there are a lot of issues such as:

Downstairs(basement)

• If anything is missing or broken on the walls its going to need sheet rock
• Tile on the floors
• Furnace / hot water needs to be re-piped

Main floor

• Whole interior of the house needs to be repainted
• Tile on kitchen floor
• New appliances / cabinets
• Laminate floor
• Granite counter top
• Recess lighting
• 1/4 inch sheet rock on the top of the kitchen
• Bathroom re-tiled
• Stairs re stained 

Upstairs

• New door for bedrooms
• New light fixtures
• Same laminate floor downstairs used upstairs
• Completely new bathroom

Outside

• Roof needs to be fixed (not replaced)
• Foundation needs to be painted
• Front porch needs to be touched up

So basically that is what needs to be done for the house. Like I said I paid 108k, but materials and labor seem to be costing about 70k. I was expecting it to be 40-50k, but apparently the furnace might need to be replaced, and the roof might need more work than expected.

I suppose my question is, what else do I need to look for?

What else do I need to get done?

Am I missing anything?

Anything to keep in mind when dealing with contractors (they make make me buy things i don't need so they can profit off it)