When Cindy and I were rehabbing houses we would only spend about $10,000 in materials and miscellaneous costs. We would do around 300 hours of labor ourselves and never made less than $18,000 net profit. We never made a huge amount on any one house because most were less expensive houses to begin with. I get a chuckle at these rehab shows where they spend $100-150,000 fixing it up. If I was spending that much then I want to be the contractor doing the work.