I need to change bathtub toilet, put in new faucets, vanity, put in new tiles and paint it (it has wallpaper right now, so in need of preparation for paint).

Long Beach is too big to be painted with broad strokes.

This week paint, replacing doors, install kitchen counter top granite and a bunch of other misc items. 

We ripped out all carpets, hired a kennel cleaner to scrub and disinfect the tile floors, scrubbed the walls and ceilings with bleach and water and painted everything with Kilz. 

This house needs 2,400sqft of flooring, paint, and ceiling retexturing.

I like to look for properties that are undervalued a bit because they need new paint, carpet, etc.

Otherwise, there is nothing wrong with the house and the only thing that has been changed over the last 60 years is the paint - and probably only once or twice.

Gary For this kind of thing home is warmer and resistance is lowered a little bit and in their mind they are selling their home at that point.

Search here on BP about "finding comps" and "how to value properties" that should paint the big picture for you.

Then go to as many REO properties as you can and practice your skill set.Here is some more info that should help you: Break up the home into sections - Kitchen, baths, flooring, paint, stucco, landscaping, plumbing (including fixtures), electrical (including fixtures), HVAC, interior doors, door casings/baseboards, windows/sliders/front door, roof, foundation, misc., and garage.Once you know what the common costs are for each area for a specific size home, you can see how easy it will become to walk in and walk out 15 minutes later with a rehab figure in your head.