In good overall shape,  lots of hardwoods.  

@Kyle Wenger, we like to refinish hardwood floors whenever possible because the are so easy to clean between tenants.

buy a log house with hardwood floors

So it's actually a turnkey property and most of the big items have been recently replaced, like roof, hardwood floors, etc.

When I walk through a place, I don't see how it looks but what it could look like based on the type of work I am capable of.I personally like homes from the 50s (good thick hardwood often hidden under a bad carpet) but avoid late 60s and 70s (popcorn ceiling = asbestos) and often cheaper construction grade.Overall, I found that flipping is a good way to turn your free time into equity/money and a great learning experience but it is hard work and definitely not for everyone.

Or are there areas where you can improve the house in general, such as hardwood under nasty old carpets that you can refinish.

From the pictures, the units look to be in good shape with updated hardwood, paint, and appliances. 

Purchase price: $59,900 Cash invested: $60,475 Beautiful SFR owner occupied home for the last 30 years. 3 bedroom 1.5 bath, beautiful kitchen, hardwood floors.

They are hardwood floors.

I could have put a bandaid on as it still worked but I pride my houses in being higher end and good quality.As we continued with the house, I ended up putting in over the top finishes such as heated tile floors in the master bath and sound insulation under the hardwood floors to reduce noise transmission to basement.