System to determine what level of rehab to do

[Dan Rosenberger]

Does anybody have a system or process they use to determine the extent of rehab to do on a flip?  

For example there might be one category of everything ok, would qualify for a mortgage, but nothing special.  

The next level might involve paint, flooring, making everything nice, but not luxury. 

A higher level might add high end faucets, granite countertops, stainless appliances, etc.

How do you decide what items to do when compiling your scope for a project?