The work will be just some painting, carpet cleaning, fixing doors and doing some other touch up when seller move out of the house.

My plan is to put new pergo in the living room/dining room and carpet the bedrooms and hallways. 

A simple power wash and / or exterior paint job can help for some older homes too...Don't waste your money putting berber carpet in this - you won't get that back ever.

It has been renting quite well, but the living room has some awful color schemes - we're talking dark green carpet and pink walls!

Good thing since if there is mold when I tear the carpet out to replace it in a few years, I may pursue a claim against them since my lease requires them to report things like that ASAP otherwise they will be responsible for the charges.I get people don't want to trouble their landlord or have their landlord coming around for stuff, but when these people don't report it, it ends up causing far more damage.

For example you need a full set of different trades on speed dial (handyman, plumber, electrician, carpenter, window guy, painter, carpet guy etc) to go through and quickly take care of things that need to be done.

Also going to need a contractor for hardwood floors and carpets.

If they come back with "The kitchen needs updating" or "The carpet needs to be replaced in the hallway"...

The roof is in decent shape, the exterior paint isn't peeling, the carpet in the house is old and has some stains, the cabinets and appliances are al outdated.So given the above scenario ad using Conv. financing vs an FHA loan ......

Thomas Theodore - Take care of general repairs between tenant turnover - carpet, paint touchup, other damage, etc.