You can try to slap lipstick on the pig, but appraisers are tough now.  

Much more likely somebody put some lipstick on a pig. 

If needed add a minimum of 15kModerate RehabCan save at least two of the following- Electric, Drywall, Flooring, Plumbing (likely touch ups in the other two)Redo KitchenRedo Existing BathroomsNo framing or architect plans neededPaintFinish BasementAdd a split unit to existing duct work (prevent from tearing up existing plaster/drywall)*Think of a grandma home that does not have knob and tube and has been on top of roof/windows so we aren’t as worried about mold/water damage*Light RehabComps do not need a finished basement or basement is finished to comp standardComps do not need HVAC or you can just add split unit to existing ductworkKitchenBathroomFloorsPaintNo major rehaul of mechanics needed (aka do not need to rip out walls)LipstickPaint, Floors, appliances in the most basic sense ARV Range Full Gut Moderate Light Lipstick +450 (A+) 150-300 N/A N/A N/A 380-450 (A) 90-120 70-75 N/A N/A 270-400 (B/B+) 85-100 60-70 N/A N/A 210-270 (B-) 75-80 60-65 45-55 N/A 170-210(C/C+) 65-75 50-60 40-50 15-30 140-170(C-) 60-70 50-60 35-45 10-20 120-140 (D) 55-65 40-50 25-35 5-15 Philly Neighborhoods Breakdown:A+ : Obvious Prime Real Estate.

Over market and shoddy lipstick-on-the-pig rehab work.

It had lipstick in all the right places.

Some great ideas here.That's about enough to put some lipstick on a pig.

All you did is put lipstick on a pig.

Is the work ok or lipstick?

I see a lot of lipstick on a pig.  

Looks like you'll have about 8% COC, not bad, hopefully paint and lipstick will improve the condition, value and rents.