Would anyone be willing to provide some rough estimates on kitchen renovations using medium quality materials and appliances for a small to medium sized kitchen (think 2 to 3 bedroom house around 2k sq ft) assuming we'd like to replace the cabinets, counter tops, and floors? 

Since then he fully renovated the kitchen adding all new stainless appliances, quarts counter tops, new cabinets and recessed lighting.

If you have not much countertop and you add an island that is usually a plus. 

It has pros and cons;Pros - Occupancy is now over 90% (needs a bit of seasoning but I am confident)- NOI annualized is ~$120K (if not more)- Just finishing extensive rehab Roof, heating (boiler and in-unit), kitchens cabinets and counter tops, updated appliances, bathrooms vanities / low flush toilets, all water valves, video system, unit painting and carpet, etc.

In a low-dollar rental it’s really hard to use cash-flow to pay for new cabinets and boring laminate countertops.

If I get the house for 55k I am essentially paying 30k for the loan (about 1 month) and the rehab:1) siding2) roof3) 11 double-hung windows, 4 glassblock windows4) clean yard5) repair fence6) replace attic windows with vents7) replace garage door8 ) install lattice around porch9) troubleshoot plumbing/electric, make all minor repairs10) LR-patch/paint, new carpet11) DR-patch/paint, restore hardwood floor12) Kit-drywall ceiling, replace countertop and backsplash, install vinyl floor, install new door to basement13) Hall-install new thermostat, patch/paint walls, new closet door14) Bath-???

When you factor in all the bells and whistles put into new homes, larger square footage, media rooms, granite countertops, etc; the average sales prices are much higher.

floors along would be $5k and then you have the cabinets, paint in AND out. all appliances and counter tops.

If all the competition is remodeled to a certain standard then you know what you need to do, if not and everything is outdated ask your realtor for advice.Do you have any skill in picking out counter tops, cabinets,tile etc?

Don't underestimate the power of shining floors and clean counter tops.