Is there carpet still there?

If so, should we also sink some money into it for new carpet, updated cabinetry and fixtures, and other cosmetics?

There is some water damage from a built in air conditioner and the inside of the house needs to be painted,  carpets pulled,  wallpaper removed in the kitchen and a bedroom,  hardwood floors refinished,  and possibly the dated kitchen updated with new cabinets, appliances and counters.  

Note that I only look at properties that are virtually turnkey—clean carpet or vinyl “wood” floors, reasonable interior condition etc. 

Example: Directly related- Replaced carpet in 1 of the rented rooms : $500 Indirectly/whole house- RE Taxes $6,000 but only $3,500 is business related based on the allocation. 

Take away buying costs of 5pct plus title insurance etc (about 6-7k)Take away holding costs of 3kTake away selling costs of 11kTake away minimum profit of 15kMax offer 93kProperty is in a great neighborhood and LOOKS like its a paint/carpet rehab from the pics However, roof is 20 years old, ac condenser is 20 years old.  

I have 3/4" hardwoods in the kitchen and have carpets everywhere else. 

In my initial networking leap forward here I'd like to offer up my knowledge of mold remediation, fire and water damage, carpet cleaning, and general contracting.

Full re-pipe and re-wire, full sheetrock downstairs (ceilings too), upstairs just new texture, all doors replaced, all cabinets replaced (upper and lower), all new flooring (enigineered wood, tile and carpet upstairs), etc. 

Drywall, carpet, etc will need to be replaced.