I am adding a dishwasher, microwave, and garbage disposal as well as recessed and pendant lighting and moving every other outlet and light switch around.The price I just got to put in a 200 amp panel and move it from inside the laundry to outside at the other end of the house was $3000, but that depends on what the power company makes them do as far as moving the meter and where they are allowed to put the new panel.The price for the rest of the work, which essentially amounts to rewiring the whole kitchen adding a handful of new circuits and some of the den is another $3000.

You can refinance after just 6 moths.FHA also has a commercial product for 5+ units, but its much harder to qualify for due to a lot of different criteria. 

This is mainly because Mark works for a flooring company, so we get all of our flooring product at cost +10%.  

I am essentially starting from nothing; although my family is fairly well off, I want nothing to do with their money and aspire to earn my own.

At least here in SoFla.If a unit is essentially for 2 ppl or the price per square foot is at a premium (NYC, SF, LA, etc.) then fine.

So here is how I would set this up: Kitchen: Appliances - $6,000 Cabinets - $10,000Countertop - $70-110/sqftSink - $1,500Faucet - $500Cab pulls - $500 (or $6-10/pull) Install - $2,000Flooring: Floor product (unfinished): (expect to pay 4 - 10 dollars per board foot for anything quality) Floor finishing (sanding, coating etc) roughly $3/Sq ft (as long as you are using a standard coating (polyurethane) if you want to go higher end with an oil or stain expect this to jump to 4-5/sq ft Bathrooms:Demo: $/hour x expected hours Underlayment: Schulter Shower System (approx: 500/shower enclosure) Tile/grout/thinset: 6-10 sq/ftInstall: $3-6 sq/ft Lighting and Electric: (pricing includes installation)   Switches: approx $30/switch  (this assumes a mid range Leviton 3-way dimmer) Outlets: $10 (TR Leviton duplex, GFI where needed and duplex/USB combo in Kitchen Island and a few choice locations) Lighting:Surface mount approx $150/fixtureCan: approx. $250/fixture (assuming old work install by electrician)A little more on why I do it this way: Kitchen: You can figure out exactly how much your kitchen is going to cost before you start.

I go through an independent insurance broker who reps several companies and he feels Safeco has a great product.  

Cut out non-essentials.  

Others will only provide a finished product.

Essentially you buy as owner occupied with 5% down payment, rehab it while living there, and after 1 year you refinance it to draw out the new equity, and then rent it out and do the same thing again with another single family home and a 5% down payment.