I'll break it down for you using the $12k kitchen you did from a GC perspective who is charging $25k:Kitchen demo - labor 3 guys 1 day $600.00 plus removal and dump fee $200.00 (total $800.00)cabinets/crown/pulls $5000.00 plus installation labor 2 guys 1 & 1/2 days $900.00 (total $5900.00)drywall prep/repair ($100 material $150 labor)granite counter tops in standard sized kitchen ($2700.00 material, $300 labor installed)30 sf of back splash assume glass tile ($300.00 material - $600.00 labor = total $900.00)sink, faucet, sink re-plumb (materials $500.00 - labor $200.00 = total $700.00)appliances install labor only ($150.00)Total job cost on surface ($11,700.00)PLUS1 estimator/sales staff to measure & bid job ($300.00)1 office staff for accounts payable/receivable (prorated labor over 30 days $200.00)1 office staff for material ordering, sub scheduling (prorated labor over 30 days $300.00)1 quality control/job supervisor (prorated labor over 30 days $750.00)incidental material expense ie: tools, screws, nails, glue ect. ($500.00)Approximate payroll taxes & insurance @ = $1039.00Overhead (rent, phone, web, licenses, fuel ect.) @10% of job $1479.00Sub total - $4568.00Projected costs $16268.00Profits $8732.00Approx IRS Corporate tax @40% - $3492.80Net gain $5239.20 or a 21% marginThis hypothetical math doesn't include permits, flooring, base, shoe, casing, electrical or anything else beyond the basics listed above.

Haven't purchased a deal yet, but am actively looking for investors in my area (Rochester / Med City).I have not been that specific as to specific appliances and repairs.  

The most recent to come onlin is renting a 1 bedroom for $1,250; and these a very nice apartments (Granite counters, stainless appliances...)  

so the 1st house i got in the name of my LLC and it has clear title now, and i'm looking at a money making duplex. i paid 10k for the 1st one, and it could appraise for about 40k. i'm living in it so i could save money by not renting an apartment anymore. the duplex's seller owes 20k and will sell for what he owes (all cash or 1500 down and ~350/mo. and it needs less than 5k worth of carpet, paint and maybe appliances. i know i could rent it for 325 on one side and 375 on the other. making 700/mo. and after 5 years it all profit (in theory). but i am on a limited income. and i need to borrow $2500 to give the down payment and at least put the new carpet in. i already have people calling wanting to rent it. is there any lenders out there (on here, or any you know of that lend to Indiana residents/businesses) that would lend such a small amount?

Furniture, appliances, term, rent none of these items are negotiable.

Anything in your condo's airspace is your responsibility, like appliances, new carpet, etc.  

Again, your repairs to an investment condo will likely be to appliances, doors/locks, and general maintenance like caulking the tub and re-sealing tile.

So new floors, new appliances, putting up walls, etc.

If all the house needs is fresh paint, new carpet, and new appliances, your repair estimate may be $20,000 too high.Finally - they really may not be motivated to sell.  

What about the appliances, will anything need to be replaced in the next 5 years?