(Labor & Material)new cabinets and counters in kitchen - Assuming builder grade cabinets from Home Depot, ~$2k to $3k for cabinets, & <$1k for laminate countersnew bathroom sink+vanity - Builder grade vanity $400 to $600 Labor & Material

What you will find in certain areas of Chattanooga is that the ARV on a rental grade renovated home with these numbers could be $50k or less. 

The tenant is probably a C grade (out of A, B, C, D) so for management I don’t mind if they stay or go.

If it's paint grade, I would use a fairly dark brown to tie in with the roof. 

The basement will be Superior Walls and the above grade is all modular.

I purchased and went in 50/50 with my realtor whom I've been close friends with since grade school.

I don't know where you're investing, so take this with a grain of salt, but at least in the markets I'm active in, "clean" offers (meaning most/all contingencies waived) are pretty common if you're buying investor grade properties and competing with all cash offers. 

Check out The Ultimate Guide to Grading Cleveland Neighborhoods for some more information on Cleveland.

Most of the C grade MFHs are in a bad neighborhood, mobile houses around...

Not sure which market in Ohio that you're looking into but in case it's Cleveland you'll want to give The Ultimate Guide to Grading Cleveland Neighborhoods a read.