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I put in a little work developing a high level scope of work, assigning values and 3 resulting estimates so that I can not only determine what I think it will cost but what the best and worst case scenarios likely are.

Being a builder, my first thought goes to the construction type items: Tile or wood floors, vinyl shower kits, high quality wall paint like Behr Marquis, solid wood furniture, good appliances not cheap rental ones, easy to maintain yard outside like DG, artificial turf and gravel. 

@Andrew Freed I did a material estimate and on the high side I expect to put around 38k into the rehab.

I'm graduating High School in a month and I want to get straight into Real Estate, I'm 17 so until I'm 18 I'm unable to get my real estate license (though its not needed in the state of FL for assigning contracts) and I don't have an LLC that would allow me to sign REI documents. 

And we live in CA so our tax rates are high.

Their real costs are in the fill fees and high costs of repairs and maintenance. 

So, a decent deal is likely to get better over the long run. given the high amount of cash needed for brrrr do you feel it would be better to start with a long term rental as an initial investment that has less risk involved 

Its important to know what exactly your goals are when making these moves and see what will make the most sense for you in the long run.When looking for your next deal, I highly recommend my local market of Milwaukee.

The triplex technically still has cashflow at the moment so I think I would be aggressive on the duplex then look at cash for keys in the triplex and get that done in one fell swoop. 3) Renting and Managing - While not the most expensive areas overall, there is demand in these areas from people paying at or above the top range I listed for high quality units.