Other than Whiskey Pete's casino at the California border it was all desolate empty desert for hundreds of miles. 

I've saved ups several hundred thousand for a downpayment but that's only getting me a fixer-upper.   

It sounds like you might be able to make a few hundred dollars more per month by renting it out and then finding somewhere cheaper to rent for yourselves.

It's not in bad shape, needs new flooring throughout and the kitchen is empty (no cabinets or anything) and it's a condo in a very nice center so the only exterior work needed is some landscaping on the small patio. 

Added partition walls to create seperate bedroooms, pained cabinets, updated paint, added walk in shower, pantry room, basement kitchen.

This is a full rehab - HVAC to floors to Cabinet, etc.

Your tenant buys the window units and the electric baseboard heat units will cost you a couple hundred dollars per room after installation.

We are redoing our kitchen, and lets say the cost is 60K+ 12K profit/Overhead (20%), includes cabinets, countertops, etc.Why do contractors calculate profit based on total cost including materials.

When I had my rentals, and the businesses, he charged me $175.00 a month, with me doing the bookkeeping, supply him the numbers, and a few  hundred to prepare the tax returns, that's personal plus several corporate returns, which included a C Corp, S Corp, and LLC.

Chances are it's going to only be a few hundred dollars.