It needs all new mechanicals (HVAC, plumbing, electrical). 

Repair any structural and all electrical and mechanical.

@Jay Hinrichs - I need to place a construction lien / mechanics lien on two properties - the local clerk's office was not overly helpful.

Any lien whether it is a mortgage, home loan, home equity line of credit, mechanics line, bitter ex spouse lien, or IRS (Or whatever) that is ahead of (In line for recording) the foreclosing entity survives the foreclosure.IRS liens are not property tax liens.

Nearly every industry has a Ws mechanism to distribute market opportunities.

It would be worth it to invest some time to develop/understand your local rule of thumbs for Kitchen, bath, mechanical, roofing, demo, plumbing & electrical, drywall/painting...    

House needs everything, roof, all mechanicals, etc but it's bones are good and it is a smaller home.

Just a thought but of course you have to have a great mechanic and willing to do what it takes in your best interest. 

I have joined BiggerPockets to share my commitment and expertise with the BiggerPockets community by offering professional guidance and advice in areas including real estate deals and transactions, business development, and project management strategies to improve outcomes, budget management and customer solutions.As someone who has personally experienced, solved problems and developed projects in the areas of real estate development involving engineering, architecture, construction I welcome conversations in these areas as well as those below: Areas of interest include: pro forma development, technical due diligence, strategy and company growth; development, deals and transactions; portfolio development & management; leasing; construction, engineering and architecture in project design and technical operations.Real Estate, Construction and A/E, project manager, Real Estate Investor with more than twenty years of integrating business, engineering , architectural expertise and real estate development, construction management experience in designing, managing and investing in more than $126.5 million of commercial and multi-family properties and over $100 million in private and municipal projects encompassing design/build, structural, electrical, mechanical/civil engineering and architectural services, construction management, real estate investments, due diligence, pro forma development and financing.

I know how to do all the mechanicals in a house.