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

But enough to make to do all the cosmetics along with a few major items like HVAC, appliances, etc.

@Kathie Mata   appliance insurance may work in some places, in my area is quite slow to show up.   

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

Amortize your major repairs (roof, hvac, built in appliances) and add an estimate for small maintenance.This feels not terrible to me.

• How do leases typically handle furniture/appliance damage or wear?

Things to consider when buying a new build are appliances, fans, blinds, and back yard landscaping; sometimes we can get appliances included, it just depends on the situation.

Appliances look nice until the pet hair destroys the fan on your nice stainless steel fridge and you are out another $1k+ to replace it... 

Both bathrooms need a complete remodel as well as the kitchen, the ceiling in 2 of the bed rooms are bowed (previous roof leak that was fixed) so new ceiling drywall, appliances, flooring, and paint throughout.

Personally I do not like providing appliances for tenants as the repairs and headaches start adding up.