Reglaze the bathroom tile and reposition the toiletThe den was added to the home and the only way to get to the den is through one of the bedrooms.

Try and have them bid " apples for apples".1- Windows   , Vinyl, Low E.2- Six panel doors and no jambs but new trim.3- two tone paint, these two colors.4- New bathroom vanity, toilet, and remove old tile with new tile. 12' X 24".Etc , etc.Brent is smart and great article, I am just adding my point of view from a seasoned  Re- hab contractor!               

Of course, if you make significant pattern of "changing your mind" and that could be a problem if somebody decided to go after you.well, if you'd like to chat I'd be happy. let me know. 

I can see through pictures that some parts of the house could use a touch up, paint, new appliances, or tile in the bathroom but I'm having trouble quickly understanding what this number would be and what I should make as an initial offer. 

For longterm rentals, some things to know are, how to calculate affordability of an area (a function of median income, interest rate, median home price), look at migration patterns (are people moving into or out of an area, what are the trends), business climate (are businesses moving to the area or out, what type of industries, income level, etc), rental amounts,  that's all I can think of at the moment.I wish I would've known more about evaluating markets when I bought my first few properties. 2 of the first rentals I bought, went absolutely no where when I finally sold them about 17 years after I bought them.

It currently has tiled countertop in kitchen & Formica-like countertops in 3 bathrooms.

I don't feel ready, but I need to stop this self-limiting pattern.                           

Purchase price: $102,500 Cash invested: $28,000 Rehabbed single family ranch property by replacing all trim, flooring, removing kitchen wall for open concept, new kitchen cabinets & island, replaced roof, updated electrical, new heat pump and A/C, complete Master Bathroom(with tile shower), and adding egress window in basement.

For instance, I have had bids for $10/psf for tile.  

New flooring, cabinets, tops, appliances, furniture & finishes, added washer dryer, new utility service, tile drain, paver sidewalk, and more!