First SFR purchase in South Bend - assistance

[Vishal Didwania]

Hi all, I just purchased my first SFR in South Bend a few days before the new year meeting my goal of purchasing my first investment property prior to the new year! I am very excited and hope I don't screw it up from here on out. Wanted to get some advice from the community.

It's a small home at bout 800 sqft with 2 bedrooms (10 x 10 each), 1 full bath, common room, kitchen, laundry area next to kitchen. Do not need to do gut rehab or replace anything major likely electrical, HVAC, water heater, roof, etc. The rehab quote I got is as following:

Kitchen:	$1,800.00
Caulk/paint white area around cabinets	$250.00
Sand/Finish existing cabs	$150.00
Tile backsplash above existing cabinets	$300.00
New range	Varies
Stainless Vent Fan above range	$300.00
30”x12” over range oak wall cabinet	$200.00
12”x30” oak wall cab	$200.00
New cabinet handles	$150.00
New faucet	$250.00
Hall:	$350.00
Remove mirror, repair holes, repaint walls and trim.	$350.00
Bath:	$2,400.00
Caulk all trim and corners, fill holes in wall, paint.	$500.00
New vanity, sink, faucet & drain.	$950.00
New Light	$175.00
New mirror, approx. 28x42	$150.00
Scrub tub, surround, remove and soak faucet and handles in vinegar, re-caulk tub.	$250.00
New Shower Curtain and Bar	$125.00
New towel holders (3 piece set)	$175.00
New floor mats	$75.00
Other Areas:
Paint ceilings and walls flat, trim semi-gloss	$450.00 per room

Since fixing up the cabinet vs replacing is not much of a cost difference I'm leaning towards just getting new ones. Are these numbers reasonable?

On a separate note I have just setup a LLC and looking to get other investors to invest with me. For others who have this setup how have you guys setup the distribution in regards to finders fees, monthly percentage cut for yourself, and distribution of profits? In the beginning do you distribute the left over profit or use it to grow more?

Thank you and any help is appreciated!!