Everything you said makes good sense ...except the 25k kitchen... I have my own construction business. Class A . I have a shop with damn near every wood working tool imagined. I made the cabinets in this house, stain glazed them , Since I do so much sub contracting work w/ Home depot, I get grantie tops, tile , applainces at hella cheap , I can build a house if I needed to . But with no labor expense except your own , just material . Almost doubles the profit.
Most people that flip houses always need a general contractor. So there losing 15% right off top of there spending limit. Meaning less to modify on the house. Most of the people I have seen or heard about flipping houses just subs most of the work out . Contractors arent cheap by any means , I know this because I am expensive.