Bathrooms? 

I know here in TX there are discount brokers that will allow you to operate a PM company under their license, maybe there is a similar company there in CA. 

We also install extra grab bars in the bathroom.

Both purchased here in 2016, and they say I can't refinance and realize any equity since I was able to purchase the properties at a good discount, and that doesn't count towards the actual retail value/appraisal of the properties.

hahaTypically in our rental properties we do tile in kitchens and bathrooms, and carpet in bedrooms...

LOL.but yes there are always deals depends on how much time you want to blow finding themand yes we are blessed right now to be in a position to be building and selling in one of the hottest markets ever.. so we cannot discount that as well. the MARKET has been very kind to us west coast developers.As well as Charleston SC I have 11 new builds going there right now and its red hot there profit margins are even higher than west coast. but talk about finding deals VERY VERY hard even for us cashed up experience folks. 

I paid for foundation work, complete new roof including rotting facia boards, some siding was replaced and some was fixed, all new flooring, gutted and redo on 1 bathroom and complete gut of kitchen with new granite counters, cabinets, all new light fixtures, all new switches and plugs, lots of moving of wires, framed up giant sliding closet doors and replaced with regular doors, a/c was just cleaned and serviced, paint inside and out, and lots of landscaping.

You cannot take a flat 50% discount because of the current vacancy.If 10% is normal V/C then you'd want to value it as if 40% were leased at market and add the 50% that is not. 

I like this one for several reasons ... first, you can normally get a bigger discount buying all cash, Second, it matches the leverage against the risk profile, meaning that you are unleveraged in the beginning when you are learning and there are a lot of uncertainties with a distressed, unrented property, you then reduce this uncertainties with the 1st 3 R's before you leverage up.

Bring a general contractor with you to the property and let them teach you how to identify problems and opportunities for improvement to bring the property to its full value.Go down to Home Depot and other individual wholesale materials stores and get a list of prices for everything you might use on this flip and every future flip.Go to the professionals desk at Home Depot and ask about discounts for bulk items purchased.It takes practice and a lot of trial and error at first to perfect the techniques to estimate costs.