First rental rehab question - how much is too much?

[Adam Craig]

So I am nearing the end of the rehab on my first rental. This was a foreclosure that I got at a below market price so I conservatively budgeted 10K in renovation costs. I didnt think I was going to come close to that figure but I am probably going to be around 9K when its all done - the numbers added up quicker then I thought :)

So far we had a mold remediation done in the basement, painted the whole inside of house, replaced both toilets, replaced everything in the bath except the tube, upgraded kitchen knobs and door knobs, purchased appliances, changed all light fixtures, landscaping, gutter cleaning.

I guess I was wondering what is the correct approach when rehabbing a rental. The house is in a B class neighborhood and I wanted to make it nice - but I keep thinking that I could have probably got it rented without making it so nice.

Do you just make your rentals livable or do replace/upgrade to make them better. Is 9K a lot to spend on a 1200 SQ FT 3BR 1.5 BA bungalow? $2700 went to mold clean up.