All in all the house appears to be in pretty good shape, it needs a new bathroom and kitchen as well as some freshening up (new windows, painting, floor refinishing, etc.). 

We're fixing up our rental property in Woodland Hills for sale and recently had the hardwood floors (about 500 sq ft) in the entry and kitchen refinished.

It needs: interior paint job, 2 stoves, hardwood floor refinishing, and needs repairs to the outside deck on the upper unit.  

3) Why did you carpet the first floor instead of refinishing the hardwood floors? 

Homeaway has a checklist on their website which is a good place to start...I would add painting, floor repairs, cabinet refinishing etc etc.Here is the Homeaway checklist (my note: quite a few of these items can quickly turn into all day jobs).Exterior?

(It's a 3/1, needs probably about $15-20k; a new kitchen, bath, paint, refinishing floors.)  

New appliances,new countertops, new windows, paint,refinishing hardwood floors, installing a beautiful backsplash, new doors, landscaping, etc. 

When refinishing the hard wood floors, I swear there is an almost audible voice telling me about the many generations of children who had happily slid on them in years past, despite their mothers chiding them for doing so.  

Actual, 3/4", nailed in place hardwood can last many decades and be refinished a dozen times.I have used thru-body porcelain in wet areas.  

The biggest selling point was to rip up the old stinky carpets and refinish the gorgeous oak floors underneath.