here is the low down-- The house is 896 sq ft and their is a large, spacious unfinished basement, needs some work on the roof (possibly a new one), refinish hardwood floors, paint, and replace a few doors.  

.- When houses have hardwood floors throughout, we refinish those in a natural finish (just poly/no stain), and then do a groutable vinyl tile floor, or ceramic tile in the bathrooms.- Use a grey or greige paint for an updated look.

Not sure if there is hard wood under the floors but if so should i just refinish them? 

Looks like the only thing it needs is a re finish of the wood floors and maybe some fresh paint.

It will be getting a new roof, HVAC, and water heater along with a light remodel of the interior (new flooring, drywall/paint, refinishing of kitchen and bathrooms).

If I rented to undergrads, I could also charge a premium, but would be refinishing the apartment after every year.  

We've had a luck of success with buying at $125,000, putting $25,000 in (electrical panel, paint, kitchen remodel, full bath remodel, refinished floors, etc), and financing back out at 80% LTC.

There are also area's of hardwood which look a little worn.Are there cheaper options to protect these floors and make them look nicer without a total refinish?

I also now know how to refinish floors, paint, hang gutters, etc.

I am nervous with the winter coming, I have ordered refinishing of the floors and a new stove for the 3br/1 bath sing family.