With that said I am looking to do minimal work to renovate the home such as painting and adding new appliances.

Upgrades include a fully remodeled kitchen, renovated bathrooms, new durable flooring, contemporary fixtures, and efficient heating and cooling systems.

So take a floor for yourself and add a kitchen. 

I am guessing that the vast majority of homes 10+ years old had some sort of water damage at some point, most had probably several.My own home is only a few years old and we had the washer spring a leak and a few years later the RO system in the kitchen started leaking into the cabinet.Seller disclosures are pretty useless in my opinion.

Sometimes they come with new appliances. 

We had planned on eventually redoing the kitchens and floors in both units once we turned over new tenants, but the evictions accelerated that process.

But it gives you a chance to get a fresh start....make your place nicer, replace appliances, new paint, get rid of carpet and replace with LVP, Etc....

Upon inspection, the pest control company found holes in the walls under the kitchen and bathroom sinks.

But if I'm going somewhere with my wife for any length of time, I like the space afforded us by a vacation rental, the kitchen for cooking, a living room for spreading out.

Walkthroughs are never detailed enough to be final (ie often tenants have lower disconnected and discover broken appliances later.)