The other partner is out of state and is supplying 50% of the cash, but nothing else. 

I sell medical equipment and supplies.

The big boys with 000s of doors may feel otherwise; however, I've only got a couple SFH remodels in process and I've noticed no significant cost increase from contractors or supplies. 

I’d suggest your best bet is to go to your local roofers supply and ask for references.

I would assume the bathroom creation would account for drain and supply lines already.

A lot of folks here on BP have full-time jobs and they cannot be running back and forth to buy supplies and chase contractors. 

The contract he proposed is to:purchase the house (20k above their purchase) for 75k.I put 10k into it to fix the roof and HVACHe puts what he estimated as 12k or so to rehabHe believes he can sell for 140k easily FSBO - or use flat rate MLS listingA recent comp nearby (only 1) shows a similar sized, but newer home, much less land, sold for 150k The house needs some new drywall, paint, unsure if tile is still OK, kitchen rehab, 2 bathrooms rehabbed, probably carpet in the roomsMy holding time is 90 days to sell apparently in order to qualify people for FHA loansIs this a good place to put limited supply of my money? 

Im getting tired of constantly having to supply the same documents that I had already sent to the broker because they can't locate it again.Thanks again!

That means more supply for the demand.

Please correct me if I am missing some line items here, but here are the working numbers for the property:+ Gross Rental Income: $150,000- Cleaning Fees: ($21,600)- Management Fees:  ($19,260)- Property Taxes: ($3,700)- Insurance: ($2,400)- Trash & Local Tax: ($650)- Utilities: ($7,200)- Pest Control ($560)- Supplies/Maintenance: ($1200)- Acct/Legal: ($1500)TOTAL EXPENSES = ($58,070)Net Operating Income = $91,930---Based on my limited understanding of the local CAP rates for similar properties in Philadelphia, PA 19106 it looks like 5-6% is a realistic number.