How much rehab quality for a SFH rental in Denver?

[Bill Coleman]

Okay so i just went to contract on two properties in the same neighborhood and these are my first real deals. Both are SFHs with need for substantial cosmetic rehab. I am planning to rehab and rent with the possibility of flipping if the deal was too good to pass up. But primarily I am a buy and hold investor.

My goal is to rehab to a level where it will attract a higher quality of tenant plus be as indestructible as possible without breaking the bank.

Here are the areas where I have questions:

1. One of the houses does not have a garage - should I add one?

2. Neither house has central air - should I install it?

3. Kitchens are in need of substantial repair but with work, could possibly be reworked so that the room functions, but is not really up to today's granite countertop standards - should I renovate the kitchens with new cabinets and appliances?

4. Bathrooms are run down but serviceable - is it worth a complete renovation?

5. One of the houses has a horribly maintained yard but is a blank slate - is it worth investing in landscaping to raise curb appeal?

Thanks everyone!