Of course it varies tremendously, but $35k doesn't sound like enough for a full gut, unless it's a tiny home. 

I have been searching around and talking to friends of mine about how they made they're living through internet marketing and real estate investing, i have learned a tremendous amount in a very short period of time but my main question still has yet to be answered...

I appreciate both of your input, this helped tremendously 

I'm a wholesaler and it helps me tremendously.

That would actually be tremendously helpful.

Spread the word Although these changes could have tremendous ramifications for everyone in our resort city, many do not know this is happening.

.- This assumes that your financing costs aren't tremendously high, as they sometimes are with hard money lenders.- This assumes your happy with about 12-18% ROI on your invested capital (for an all-cash deal).In my opinion, there are better ways to evaluate a deal. 

@Marcia Maynard - You have been such a tremendous help to me, I can't thank you enough for your insights, tips, and suggestions. 

In Austin you will have a hard time finding cash flowing properties under $200k but the upside appreciation is tremendous.

Similar to what you've done on that sample property of streamlining operations, cutting expenses, and putting some investment into the property, you've seen tremendous upside.