The other tenant wants to stay and found a replacement tenant that would like to take over the moving out tenants spot.  

Any experienced agent will spot it a mile away, a noob might not. 

It's a multi unit of  2 2bedroom apartments, 2- 1 bedroom apartments, and 1 space that's commercial spot.

House needed very little, but ended up putting some money into updating the kitchen and restrooms, as well as a few spot repairs.

The customer then could either choose to fix things on their own, knowing the problem would be solved or pay me to fix things on the spot, and if you were good to go I would also let my customer know.

Your advice is spot on.

We virtually always have a qualified tenant resulting from the initial open house, but we seldom have more than a few qualified tenants from the original open house and we always have significant initial interest (20 to 40 inquiries).BTW no matter how much a potential tenant states they like the rental, if we do not get a completed application on the spot we have less than 20% chance of getting the completed application. 

You have to find that sweet-spot where any rehab work you do puts money in your pocket and is not money down the drain.I know markets where adding granite countertops won't get you $1 more in price (although it may sell faster) and other markets where granite adds a lot of value and it is hard to sell it without.  

Can I just hit these spots, or is this a complete re-do?

If all these check out I will make an offer ON THE SPOT and get it under contract ASAP.