One of the biggest dangers any house faces is homeowners without enough knowledge about what it is they are trying to do. Doing it yourself is a noble and cost effective way to get what you want BUT like anything ya need to do the research and get the bones right.
And lets face it there are times when it's just wiser and more efficient to pay the extra money and have a pro do it right the first time.

Most of the repairs that we've done to this house that have not been those mandated by time and neglect have been the result of poor do it yourself jobs. Fortunately for us those jobs are limited to just a few rooms in the house.
One of those jobs is going to be tackled this spring.I wish I had a working camera so I could show you the mess they made by cutting corners and not thinking it thru.

Great message and one many homeowners don't listen to. Paint is cheap- but my motto is fix the systems and structure first. While waiting to save the money for the big things, a gallon of paint for $40 went a long way to keep me appeased until the next project could start. Today, I have all new systems in my 90 year old house, fully insulated, and slowly fixing/replacing the old windows.

As for your "craigslist" kitchen, honorbiltkit- I too have had to buy lesser items than those I wanted, only to be patient and wait for the good things to come along. I just recently purchased a $500 faucet for my bathroom on e-bay, brand new for less than $50! I've had my eye on it for the past 5 years, but it finally came up in my price range- and I got it. It is now installed and I'm so glad I waited. The new one is total bling! And the old one that I purchased for $120 5 years ago, I will donate to Habitat for Humanity and be able to write the full value off on my taxes. Who says being frugal can't be fun!
Oh, and while I didn't do the replacement plumbing and new electrical panel- I have done the rest of it- all DIY. It can be done, just requires a lot of research and hard work.