Hi Doug, I’m a newbie investor and I listen to Robin Thompson’s teaching CD’s, she is a rehab queen out of Ocala, FL she recommends independent contractors, electrical, plumbing, painter, roofing etc,  the GC can be contracted for Sheet rock, flooring , dry wall etc, better protection for the investor to ensure timely completion of work with cost over runs

My capex budget includes roof 25 year life span, floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span.

This just reduces your cash flow every month...but you're not coming out of pocket...and, the actual costs to the deal is insignificant.Example:  Cost to replace roof = $5000Option #1:  Replace in 5 years, when it starts leaking.Cost to you for roof:  $5000Cost to replace/repair interior damage:  $3000 (floor, paint, etc...)Interest on funds: $1800Total cost out of pocket:  $9800Cash flow for 5 years (before roof repair):  $5k/yr = $25,000Adjusted Cash flow for 5 years (after roof repair): $5k/yr = $15,200Option #2: Replace now, before it starts leaking.Cost to you for roof: included in purchaseCost to replace/repair interior damage: $0 Added O & I to purchase loan:  $24/month; $288/yearTotal cost out of pocket: $0Total cost added to loan over 5 years:  $1440Cash flow for 5 years (before roof repair): $5k/yr = $25,000Adjusted Cash flow for 5 years (after roof repair): $5k/yr = $23,560

I see most people mention laminate floors in replace of carpet, fresh interior paint, bathroom vanity's, and updating the kitchen.  

minor renovations needed - painting refinishing hardwood floors adding new appliances What was the outcome?

I have seen some potential properties, however most of them would need some form of repair ranging from installing new flooring to repairing water damage and potentially more.I'm wondering how a recession will impact construction costs?

DIY repairs , refinished floors, added appliances updated bathrooms What was the outcome?

Maybe one of the better houses in the suburbs, maybe, and we're talking maybe a bit of paint and some flooring or something, not a full-blown, fix 100 years of deferred maintenance and straight-up neglect. 

On my first deal, one of  the biggest mistakes I  made was not having any idea of how important floors and foundations are.

Have the GC tell you what time frame he can complete the project in, and then draw up your own schedule showing the milestone completion dates (demo,plumbing rough in, cover up inspection, flooring, tile, top out..etc...)