We are going to paint the whole interior (~$1.5k), refinishing kitchen cabinets (~$1k), updating 2.5 bathrooms (~$3k), and lighting (~$1k).

Take that money and put it into things that pop i.e. front door, landscape, fresh paint, appliances.

Floors, paint, kitchen cabinets ( no counters), baths etc... well about a month or so ago, after the owner had finally accepted our offer, someone broke into the house and stole all the kitchen and bathroom cabinets.

It's mainly a marketing business, so focus on understanding marketing, deal strategies, and running comps before you get into the less important aspects like paint colors and flooring styles.

Sometime painting or resurfacing front door etc will be covered. 

Another good route to take would to be to go to your local kitchen/bath design place. get them to do the designs and then ask them for the assist on picking paint colors, flooring, and the other finishes you will have through out and they will be able to steer you down the right direction.

Back house gets new flooring and paint as well as a new roof.

We did some cosmetic work, installed new kitchens / baths, flooring and painted it.

Should rent for $750-$800New Carpet, New tile, new paint, SS Fridge included.

This smaller rehab would be repairing some couple foot by couple foot holes in the wall and ceiling, replacing several broken doors, refinishing the wood floors, putting new linoleum in the bathroom, putting in new cabinets (but keeping the sink) and painting everything.