No plumbing, electrical, windows, fixtures or mechanicals.

I upgrade to 200 amp, insulate, replace dated light and plumbing fixtures, replace the roof if necessary (or budget to replace it if it has a few more years on it--I just don't wait until it starts leaking), fix any drainage issues, replace windows (maybe 75% of the time), make sure doors/hardware work properly (I install hinge-stops and/or those round plastic bumpers that affix to the wall so I never have wall/door damage), limb up or remove trees, and of course give it a thorough cosmetic upgrade so it attracts good tenants.

The numbers on this deal:Purchase Price: $72,000 cashRehab Costs:Kitchen Granite: $1300HVAC upgrade: $500Electric Fixtures: $800Interior finish: $2300Bathroom: $800New floors: $2800Dumpster: $1000Deck: $3000Microwave oven and elec: $600Rotten wood removal: $895Deck stain: $595New sod: $1795Shutters: $295Concrete stain: $495Mail box: $95Total rehab: $17,270Total cost: $89,270Sold price: $115,000Closing costs: ?

Total rehab: $17,270 (estimated was $18k and change)The numbers on this deal:Purchase Price: $72,000 cashRehab Costs:Kitchen Granite: $1300HVAC upgrade: $500Electric Fixtures: $800Interior finish: $2300Bathroom: $800New floors: $2800Dumpster: $1000Deck: $3000Microwave oven and elec: $600Rotten wood removal: $895Deck stain: $595New sod: $1795Shutters: $295Concrete stain: $495Mail box: $95Total rehab: $17,270 (estimated was $18k and change)Total cost: $89,270Sold price: $115,000Profit: ~$25,730 (after soft costs it should come out to around 20k, need to figure those)DOM: 150They really nailed the rehab budget and for that I give them credit.

My advice would be: if you cannot inspect the home prior to purchase then adjust your offer to compensate for a full interior renovation - flooring, plumbing, paint, many fixtures, etc. 

@Bob Malecki   Thanks Bob,,, Not my cup of tea the NPN ...

I also have strict no painting rules, had someone paint a bathroom purple once with lots of pain runs and and paint on fixtures, doors, etc. 

Sorry for the long post, this second cup of coffee has kicked in.

As mentioned, generally that is not most HML's cup of tea.  

Sorry for the multiple replies, am watching the (World Cup - not inc America) cricket......!