You can find framed mirrors at Walmart and Target as well as other discount home stores cheap.A lot of times I take the old flat mirror and get some fancy trim from Lowes and make a nice frame for it.

so i was reading this http://www.biggerpockets.com/forums/67/topics/21771-gut-rehab-costs and got the definition of a gut rehab "A major restoration project on an old house or other building, ripping out plaster walls back to the studs and rafters and replacing them along with some or all of the trim," on that link it said something like a gut job is about $40 a square ft.

I have some of the metal house trim rusting out and am unsure on how to replace this.

Then may some window trim or elements of interest.

We will add larger baseboard and paint the baseboard, balusters, window trim, and mantle semi gloss white. 

Should I also paint the 2 large posts and/or window trimmings the same color as the floor?

Also, we painted the trim/doors/cabinets with a latex semi-gloss white, and it keeps getting dirty and the dirt wont wipe off.

I looked the bathroom trim being offset with tile.

Even if you trim down my allowances, the best you might accomplish (on paper) is a break even ... but you would be setting yourself up for an expensive lesson.Now, this house may work as "rent to own", but you would need to qualify a candidate who would like to own it; rent to them for $750/mth and sell them an option to purchase the house in X months/years at a price to be set now.     

You could itemize the work into specific areas such as painting, electrical, carpentry, roofing, drywall, flooring, appliances, caulking, plumbing, trim, siding, etc. in order establish the amount of work involved in the restoration.