Thanks for the replies guys, charles whitaker, very informitive, I like these..The current property needs the kitchen to be opened, as it's only 12' * 11', but there is a wall, and another room, could be a dining area..

Purchase Price: $65,000Projected Repairs: $80,000Projected ARV: $225k - $240kRight now I am finalizing our budget numbers on this one but the scope of work needed on this is as follows:- New siding- New plumbing & electrical wiring- New Roof (30 year composition) - New Front Porch & Portico- Replace rotted wood on small addition for the hot water heater- New Site Built Cabinetry and Extensive Crown Molding trim & builts- Open the Dining, Living & Kitchen walls to one another (Open Concept)- Increase the Living Room ceiling height to 9.5 feet- Sand & Stain floors- Replace (1) window (Amazing enough ALL the windows are in STELLAR condition!)

Each bedroom, each bathroom, living room, dining room, kitchen, walls, pots and pans and glasses and dishes and sheets and towels and blankets and decorative stuff and pictures and perhaps exterior stuff like patio furniture.

It has a totally open floor plan with a half wall kitchen to living and dining area, so cabinets are part of the total "decor".

Some rehabbers deal with this by opening up the entire space and turning the living room/kitchen/dining room into one space.

The estimate did include:Exterior:- New trim around windows- Repair of one window (glass was cracked, looked like a baseball strike)- Deck repair (there are two decks, one off the master suite and one larger deck off the dining room.... both need minimum of power wash and paint)- ~$1,500 in lawn care, shrub trimming, tree trimming (it was pretty bad but would look amazing with some care) (this was my estimate outside of the GC estimate)Interior:- ~$3,500 for demo (my GC actually thought $6k but hires it out to 1-800-Got-Junk and recommended that I could find a less expensive option. 

There is a ferry that runs between San Francisco and Sausalito, with exceptional dining and shopping on both ends.

An example from a dining/living space: Before:After:

we had pulled one out of our first town house in Baltimore when the wall between the kitchen was removed; no real loss of heat since the dining room radiator was huge. 

@Todd Whiddon Stunning.