The bottom half of the drywall is cut off in half of the house's interior walls, and carpet has been removed.There is also a leak in the ceiling from the upstairs main bathroom.I have a fast agent, and I want to make my offer ASAP.

Does that give me enough room to make a profit assuming I do a lot of the minor work - new showers, paint, siding repair, fixtures, landscaping myself and hire out for AC/roof/carpet from discount outlets?

Smoking inside causes damage especially if the tenant drops the cigarette onto a counter top, floor, or carpet.

And tenants like any floor that iisnt carpet ...some think it is gross.  

Lets assume there is hardwood floor in the house, and all doors need to be cut off at the bottom to allow room for carpet to be installed over old flooring.

I agree that 10k for rehab seems low, all it mush need is paint and some carpet.

Also while renting make sure to inspect the property at least once every 60 days to ensure home is just a pretty as it is now.With regards to repairs I only see carpet and some appliances need replacing or installing.

For example:On this house, I painted the interior, new carpet, new appliances and put in granite.

Started with paint and carpet rehabs and now run a construction company that does everything from Paint and Carpet to new construction and historic restoration.

An easy rule of thumb (and it is only a rule of thumb not applicable in all cases) in the Houston area is:Houses 10 years old or less $5-10 per sq ft in price to rehab10-20 years old $10-15 per sq ft.20-30 years old $15-20 per sq ft. 30+ years $20 or more This will give you a rough approximation (very rough, but a good ball park for replacing all of the major systems based on life expectancy and updating paint carpet etc...)