How Far Does $50k Go for Rehab?

[Chris Kay]

Looking to get into the BRRRR game and trying to estimate how much renovations will cost for an average distressed 2-3 bedroom home roughly 1200 square feet or less. I still need to link up with a contractor and talk this out, but I'm wondering if anyone had examples where they put around $50k into a home and what the results were.

I keep hearing that costs of labor and supplies are rising (when aren't they?) so I'm wondering if around $50k is reasonable to get a smaller single family home up to speed where it looks something like what you'd see on HGTV.   

I understand that starting condition and location will play a factor here, but just wondering what your experience has been. I'm in Michigan if that matters for specifics. 

Edit: I don't plan on doing any of the work myself aside from the most basic of things. I'd rather stay out of the way and let professionals do their thing.