Help Me Analyze! (Foreclosure Purchase)

[Jeff Lee]

Purchase Cost: Paid $66,250 (all cash), home inspection ($350), title (?). I'll just go with $67,000 to make it nice and even.

Details: 3 bed/1.5 bath, 1312 square foot

Objective: Simultaneously list for rent or purchase

Links:
https://imageshack.com/a/T5Iz/1 - Interior Pictures
http://goo.gl/HaRS36 - Zillow

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My cousin, the handyman, has looked it over and suggested the following:

Exterior: Patch the roof, fix/replace eaves, fix carport ceiling, paint, and removing that big tree on the right-hand side. (He estimated $2k off-the-bat and an additional $1,500 to remove the tree. I'm splitting the cost with the neighbor.)

Interior: Tile the hallway/kitchen/bathrooms, put in basic stove/fridge (nothing more), install new drywall in the kitchen/dining room, and apply fresh paint.

I want to do a bit more such as replacing the cabinet doors (I'd go with flat-panels), replacing light fixtures in the dining room, and putting in faux wood blinds. But he suggests we do what is absolutely necessary and see what the cost is before going on to the upgrades.

My thought process at this time is to list the house for rent ($1050-1100) and sell ~2 weeks before it is completed. I don't know how much I'd sell it for though. I'm thinking ~$115,000. A majority of houses in the neighborhood are aiming for $130-145K (http://goo.gl/ycjs42).

My mentality is, "I want to give potential buyers some flexibility. They may be content paying a lower price and not having granite, a new roof, new A/C, etc. If a buyer wants a new roof or cabinets, we can work out it in the contract and what not." A buyer may work out the numbers and figure out they'll spend a total of $120-125K to get the house they want it versus paying $130-145K.

Of course, if I find a qualified renter, then I go with the renter. (Personally, I'd go with a buyer.)

All thoughts and opinions are welcome!