Adding value would be changing the features of a house with an addition for instance, or possibly a garage, or just about anything that would be "added on" could also be adding value.  

Had 3 closings this week 2 were flips which were on the market for less than 5 days with multiple offers over asking and the other will be added to my owner financed deals (20% down, 12% interest). 

Also, with the 203k loan, some of these (estimating $11,000) or these repairs will be added into the loan, so I'm hoping for an even higher ROI.All the while, I plan on renting my primary residence.

You should be adding up the exact replacement costs for all of the items and cleaning services you mentioned and deducting only that amount from the deposit.

Drywall & Insulation= $200 + $0 labor = $200Rock, tape, mud, etc,Wallpaper & Trim = $400 + $0 labor = $400150' linear feet of trim & bead boardPaint & primer = $60 + $0 labor = $60Shower Frame & pan = $500 + $0 labor = $5002x4s, decking, pre slope mud pan, liner, deckmud pan, water barrier, shelves, waterproofing, hardiboard, tons of screws, etc.

Not sure what that would be, but I think that would be added to your basis from a tax perspective.

Had they simply run a bead and left it, it would be as bad, but they smoothed it all out, forcing caulk into the grain of the wood lap siding.

I would be adding it as another rental property, current home values are @80k

Look for one with a 12 mil or better wear layer and a scratch resistant finish like AO or ceramic bead.

I do agree with you that a great deal of value can be added through rehabbing a property which can lead to better cash flow.