Generally, seems like newer kitchens, lots of storage closets, and fresh paint are attractive for tenants.You generally want durable finishes wherever possible, depending on your climate and market.

You are right, depending on the econimic climate remaining the same.

This may be a little different in states with colder climates, but it really just hasn't effected us all that much.  

We operate in a northern climate, and there is often substantial advantage to replace original windows - especially if they are old, built in-place, single glazed, single/double hung - with energy efficient double/triple glazed windows {casements are preferred as they are more efficient}.  

Warmer climate helps. 

It also depends on the climate as any water damage in high humidity or warmer climate can also cause damage to the laminate..

You must have mentioned buying from folks in foreclosure for your attorney to suggest you look into the FC laws, if that's where you're fishing you better know the rules of that game, it's not a place for newbies to tread really, you talks with such a seller can open you up to claims that can burn you and as to what is said, the owner will most likely be believed over a buying investor in that climate.  

Don't know a lender who would do that in today's lending climate. 

I pay for anything else that needs to be done.In colder climates it may be OK to let the tenant take it over.

Or do you look directly as the micro climate that is the city or county area you would be investing in first.