Here is what we are estimating right now, so we would appreciate any feedback if anything is missing, not estimated high enough or much too high.Exterior- Roof, siding, lawn, driveway, etc. all in good conditionInterior- Demo $500 (removing carpets, flooring, etc.)Drywall Repair $1000 (various holes in walls and ceiling up to 1-2' across)Plumbing $300 (two new toilets, fixtures)Front Door Replace $300Electrical $300 (electrical box has a circuit breakers hanging loose)Interior Paint $2500Cabinets/Countertops $3000Carpet/Flooring $4500Kitchen Appliances $3000 (buying refrigerator, stove, microwave, dishwasher used)Totalling roughly $15500 and this includes labor cost.

@Michael Cavicchi to remove that pool you'll probably have to demo the entire structure.  

With your expertise you may be able to help me greatly.In my mind, I am thinking that a GC would handle siding/wrap/sheathing/insulation/drywall, carpentry, demo, framing, finish installation (cabinets etc.), flooring and minor painting.I definitely want a specialist for roofing...

For example on my last flip, one contractor handled all the Misc repairs, demoed an addition, rehabbed and installed a beautiful new master shower, and repaired all drywall.   

We have demo/remediation people there now that insurance company is covering it.We are insured for actual value less depreciation.

As you can read in the above linked post, my basis in each lot after development (including demo, survey and subdivision cost, utility connections, grading, tree removal, etc) was right around 208k per lot.  

(Carpet and paint, vs demo and rehab are touchy).  

The property had been on the market for several months so I wanted to make the seller a little bit of money while still leaving me enough money to demo the house and build a fourplex within my budget so I offered $170,000. ($690,000 - $170,000 = $520,000; $520,000/$140/sq ft = 3,714 square feet/ 4 units = 928 sq/ft per unit).The seller's agent came back and said that the seller is deciding to take the property off the market and will take on the project him/herself.I am kind of bummed, but at least I took some kind of action.

Don't forget to check the local municipality for any building regulation offences, demo orders etc.

I saw this last time too where all these flips shows came out, seminars from educators were rampant, news stories were once again touting real estate as in vogue and a juggernaut that can't be stopped.I know agents right now buying cars,big houses, trips out the yang thinking (this is awesome).I am trying to make smart investments today and hold a certain liquidity position to take advantage of discounted assets in the future.There is talk that Trump's plan for reducing corporate taxes and road improvements might extend the cycle out 2 to 3 more years but nobody knows for sure.