I would advise to go to Home Depot make a list of items and prices like cabinets, sinks, tile, paint, Sheetrock, toilets vanity, water heater, boilers or baseboard heaters those are the main things you have to deal with inside the house.

We updated the tile in the kitchen and made various renovations.

When the carpet wears out I renovate the floor and put in 100% floor tile.  

On the surface it looked to be in very good condition, roof, tile and wood flooring.  

Tile, carpet and vinyl plank.

We stayed in touch with the owners over the months, and after meeting up a couple times and some negotiations we were under contract.I'll keep it simple to the details but let me know if you have any questions.4 bed - 3 bath - 3 car garage - SFHPurchase price: $160K1st Loan: $112,0002nd Loan carried by sellers: $49,000Down payment: $2,500Rehab Cost: $13,000Real Estate fees and closing cost: $8,900Basic list of repairs: carpet, vinyl tile floors, vinyl plank flooring, faucets, toilets, light fixtures, thermostat, interior paint, appliances, gutters, backsplashes, resurfaced counter in kitchen with an epoxy countertop, re-stained all cabinets throughout the house, added pulls to all cabinets, new kitchen sink & faucet - finished it off with some light staging for photos and to help it sell quicker!

Possibly using a professional third party vendor for the pre-inspection is a great idea, give a copy to the owner and tenant Excessive holes in walls Broken tiles or fixtures in the property Plumbing backups Repainting where a tenant has repainted from the original color Tears, holes, stains or burn marks in carpets Missing or damaged blinds Broken windows and window screens Broken doors and locks Broken or damaged appliances Excessively Dirty Pest control if you see Bugs and or fleasJunk or trash left behind Past Due rent Fees incurred from fines from the association due to the tenants conduct or lack thereof Water damage to hardwood floors Missing outlet covers Remotes for garage or gate if not returned Rekey of locks if tenants did not return the keys Unpaid utilities, as long as they were part of the lease agreement Undoing a tenant alteration This is a sample of things that are usually considered to be normal wear-and-tear and should not be deducted from a security deposit: Slab or plumbing leak Normal rug wear.

I also try to not put on carpet; I like tile and wood for floor products with regard to rentals 

Just click my name and look at posts I've written I believe there are three lazy landlord posts One on painting One on flooring I like what you've written I believe it dkesent have to be that our work is less than professional quality I think that for many of us who are somewhat handy We can specialize on one or two things that we can do really wellFor me I have chosen Tiling , painting, and landscapingNow I haven't rally done anything landscape wise but my intention is to take some classes on landscape design It's one of those areas that pay huge dividends and save tons of moneyTiling mastery allows you to save tons of money and actually greatly improve the value of a home Painting of course is something we all can do and we can learn some tricks to help us get a professional job. 

That'll get you basic fixtures & tile throughout in this area in most cases.