Since we purchased in July 2013 we gutted 1.5 bathrooms, renovated kitchen, new paint/trim and new floors.

Keep in mind rehab to prove increase in value- we've bought some really great deals that didn't need too much major work, but then when we hit appraisal time it was hard to prove a huge increase in value in 6 months time, because we hadn't put on a new roof or remodeled the kitchen.  

My guess is your asking price is too high.In my market, even if the house looks decent, rehabbers will generally be updating the kitchen and bathrooms, refinishing the floors, painting, etc. 

Your architecture skills will have greater leverage for bigger projects certainly, but the process for doing a kitchen rehab flip (for example) is a good incremental step in learning the buying-bidding-building-selling part of the market.  

As far as purchase price, rent, area, rehab etcIts in the Midwest.Its in a very landlord friendly stateNew roof, updated electrical, plumbing, and HVAC4 bedrooms 2 baths New 10 mil laminate flooring both bathrooms are full tile on floors and showers, all new fixturesnew kitchen cabinets, appliances, backsplash and granitefenced in backyardarea sales for this kind of house are 135k to 145k in the past 6 months in same neighborhoodPurchase Price 129kRents would be 1,100 to 1,200 a monthProperty Tax: 690 a yearAppreciation would be minute at best as it is the Midwest no ups and no downs just steady. 

Wait...so you're going to leave a black sink, black stove and stainless microwave/fridge along with that God awful tile in the kitchen?  

The cops said I was lucky , they usually dump the contents of the kitchen , all the clothing drawers , rifle thru closets .

The area is a A-B neighborhood, based on a 10 cap the price seems reasonable (comes out to 7.6 cap as is), the rents are a little low for 2 and 3 bedrooms but the kitchens and baths need updating so there is room for forced appreciation.

I have shared a before and after of our standard Kitchen cutout we use as a template for each project..Has anyone dabbed in this space and what insight can you share?

By asking if you can wholesale it says you want to pass a contract for a fee, if your intentions are something else, you can say so as you really wouldn't be wholesaling if you are simply assisting her (which, IMO, is where your duty should be).You said she had no equity, but worth 90 minus 15 is 75 and her mortgage is 70, that's 5 k in equity, settlement costs will eat that but she has equity.How did you get your rehab costs, what is really needed, I could do a modest kitchen rehab, change out all the flooring, interior paint, and do some outside work for less than 15K.