Hi Norma,We figured $15,000 for a total remodel of one of the units including:  flooring, cabinets, dishwasher, bathroom, etc. .  

Wholesaling involves acquiring property at deep discount and assigning it at a slightly higher cost to an investor.

@Bill HamiltonGenerally speaking in the prices below about $400,000 there is so much demand that people will not discount the property based on condition more than the cost of doing the updating if it's livable.

Handscraped hardwoods in all public spaces, new carpet in bedrooms, new toilets, new light fixtures, kitchen redone with granite counters & new appliances, bathrooms redone with granite, new quality vinyl siding, etc.A colleague (local realtor) on BP sent me a CMA and we both feel the appropriate rent is $1,600 per month.Here's the big question: does it make more sense to keep this house as our first foray into the rental market or sell the house and take the nearly $100k in equity and buy 3-4 more properties with that cash as down payments?

You'll probably see GCs here in the bay area mark up material 10 to 15%, though sometimes they receive a builders discount so there is a smaller gap between their quote and the retail price for everybody else.

Single family homes with just 1 bathroom are not desirable to buyers. 

Both bathrooms needed a full rehab which is the main reason for the 203(k) but he's getting a kitchen and time throughout along with some painting.  

She sends me emails with properties from the MLS that are discounted.

The investor should do fine but he's getting a steep discount. 

Especially a bathroom floor.