Overbuilding for a rental?

[Chris Landrum]

Hey BP!

I just picked up my first rental property (Richmond, VA). Since my experience to-date has been rehab only I'm fearful of overbuilding. There are three items that I would appreciate the group's input: (1) appliances that I should provide vs. tenant & (2) should I replace a dilapidated deck; (3) vinyl vs. tile in kitchen/bath.

For some background, I bought the property for $30K and plan on a $20K rehab budget.  I would say the immediate area is predominantly Class B; most rentals (2/1) go for ~$700/month.  Section 8 tenants is a likely outcome.           

(1) Appliances - I was planning to provide a refrigerator and electric stove.  The debatable items are washer/dryer and built-in microwave.  Even if I don't provide a built-in microwave, should I add a 20amp circuit for the tenant (we have to upgrade service and move panel regardless so "the hood will be up").  [note - I'm brushing up on Section 8 requirments which may force my hand]

(2) Deck - There is a deck present but its a hazard so I have to demo (its beyond repair).  The property has a private backyard (fenced) with steps to the house.  I can replace the deck for $3500.  The question - will I get a return on my incremental investment?

(3) Vinyl vs. tile - I have to install new flooring in the kitchen and bath.  Clearly vinyl is the cheaper option and one that's on par with similar homes for rent.  That said, will I be replacing vinyl due to damage as tenants rotate out.  Tile is more durable but costly. 

Thanks in advance for your input,

Chris