Tough lesson but bet you won't let it happen again.

Cabinets and countertops range by thousands depending on materials, size, and other details. 

Your best bet is to put in the time and effort to source deals and partner with someone who has money for a 50/50 split.

The contract he proposed is to:purchase the house (20k above their purchase) for 75k.I put 10k into it to fix the roof and HVACHe puts what he estimated as 12k or so to rehabHe believes he can sell for 140k easily FSBO - or use flat rate MLS listingA recent comp nearby (only 1) shows a similar sized, but newer home, much less land, sold for 150k The house needs some new drywall, paint, unsure if tile is still OK, kitchen rehab, 2 bathrooms rehabbed, probably carpet in the roomsMy holding time is 90 days to sell apparently in order to qualify people for FHA loansIs this a good place to put limited supply of my money? 

If you don't have the cash to purchase a larger multi family your best bet would be to purchase in some type of group funding.

@Steven Gingerich I think when starting out buying under your own name is the best bet.

Is the park located in an area where a major employer is down-sizing or relocating?

If you want to play the appreciation game, NYC is better bet than Austin. 

Flippers and Brrr-ers of DFW: Which types of projects do you like?  1-cosmetic (paint, new floors, maybe a few small framing changes), 2-some real remodeling/maybe a major system or two (new baths, foundation + hvac, ...

I'd love to eventually get to this point and I've read and heard on the podcast that you shouldn't necessarily start small, so I figured I'd try to run this property through my calculations.That being said, I'm trying to understand some of the additional costs that may be involved with a property of this size.