We will be repainting interiors and updating flooring.

In return I can help out for free ofcourse with many things such as landscaping around the property, repainting vacant units before new tenants move in, showing vacant units to possible new tenants, and many other things.

I don't want to have to keep repainting it every year. 

We repainted the doors, purchased a new mattress for the murphy bed and purchased a few small kitchen gadgets. 

While looking at one of David Greene's rehab projects in the same city (http://greeneincome.com/index.php/2016/12/01/alexon/), David paid $6.5K to have the property repainted, kitchen floor replaced, cabinets repainted, new doors installed, plumbing repaired, electrical upgraded, garage repaired, bathrooms refinished, new appliances and fridge installed, and some repairs made to a handrail.

The house had several floor joists and trusses in the attic that were cut through in order to run venting and pipes that needed to be shored up, some rotted subflooring that was discovered in the bathroom, some drywall needed to be replaced, the whole house was repainted, added a water softener due to the hard water from the well leading to discoloration of the tub, and upgraded the fixtures to make it look nicer.

Walls in good shape though we will probably repaint.

With this in mind, you might want to explore the feasability of doing shared housing on your first rental....it's a headache but you'll get higher net rents and the house will never be empty, while avoiding costly vacancy and repair/repaint costs.  

repaint, new molding to rest of basement. 

The whole house needs to be repainted as well.