I have about a 18k profit margin.

I have no mortgage on the property and it generates about a $6k surplus each year.When my current tenant moves out, I'll have to re-carpet and re-paint, maybe renovate kitchen.My question is, since all the appliances are original (and still in good working order), when this tenant moves out and I do my renovations (mentioned above) should I sell it before some of the expensive things start breaking down (a new heat pump will run me about $6,000) or re-rent it?

I'm not sure where you are located or what other flips in the area look like, but cutting costs/corners in kitchens and bathrooms usually means lower profits.

We are looking for the elusive flip house in my area, the classic 3/2 block house with high enough comps surrounding to support the 25-30% target profit. 

I suggest long distance: easy and profitable.

All employees need to be managed to generate acceptable results.

Do you think there is any way for the bank to take a low ball offer and I could flip it for a good profit? 

Not sure that 30% profit is realistic.

I remember reading a book several years ago about an investor who specialized in this  (it could have been this one: "Swapping Real Estate for Fun and Profit"), but I need something a little more specific. 

My net profit would be equity + monthly "spendable" cash to spend or use/save towards another home.