If I spend some money (light kitchen/bathroom remodel, laminate flooring, paint) ARV is around $290k-$300k, confirmed by my agent and myself. 

one option is to buy 4 drawers, remove 2 faces, and make the top match 4 across or do some creative painting and keep the btm wood as is.Otherwise try hoods up on natural bridge by the airport.

It’s not a total renovation - just updating kitchen and master bath, and painting throughout.

Maintenance items, like paint, don't add to your basis.  

It doesn't have heat or a/c but the electrical was updated 3 years ago and the owner/occupier of the property has made a few improvements including siding, paint, wood rot replacement, electrical.

I'm open to rehab homes as long as rehab cost is less than $5k, floor and interior paint is fine but not redoing kitchens + bathrooms. 

Many things like paint and carpet can be done on a square foot basis, and you can call around to get some quotes to come up with a basic number you use for calculating those. 

The previous owner of our property let him put it there, and it has since fallen into disrepair - paint is all faded and chipped, business name and non-current phone number are barely legible.

Not to paint with a broad brush but many contractors are criminals so it shouldn't be a surprise.

@Russell Brazil, your comments make a lot of sense and seems to paint the plight of both sides in a fair manner.