something out of the 80s that's got good bones with more modern construction materials that you can replace flooring, paint, trim, windows, etc and do it as you have time for.If you answered "yes" or "potentially, yes" to #1, I suggest networking with other investors and learning what landlord life is like and if it makes sense for you in the short-term with the eventual goal of hiring property management later on. 

I negotiated it with all contingencies to protect myself and my deposit in case of any undisclosed material facts about the property.

I did not spent a dime on a lead generation or marketing my self (except business cards and listing materials). 

We also had shingles and or building materials to go with the sale of the property.What was the outcome?

It seems over the past year we went from high cost of materials to build to high being a bit expensive to borrow money for projects especially if you are new in this space.

The rehab cost will very on many factors like what kind of materials / finishes and if you hire a GC for all the work or subcontract for different jobs.

., where material cost..., labor cost...,  taxes..., and profit needed to be. 

@Daniel Z Fang: Sounds painful but when investing in securities you probably received material from who you invested with stating that you understood that you could loose some or all your invested funds and probably also that you understood that returns are generally not guaranteed. 

Total estimated cost for materials and installation? 

Promoting the “spend as little as possible now and just deliver what they need” model is a money waster.