I always make sure the paint is not peeling or chipping (which I would do anyway).

Other than this, the bathrooms are all original, with concerns for mold, older and very worn tub, toilet, vanity, peeling paint (lead expected, for sure).

Like mentioned above keep your eyes peeled for something you can improve or see creating the extra value possible in SD.

She says is just two hours worth of work but I tend to disagree after looking at the existing trim in the house, all the trim from the floor to the ceiling needs an overhaul to look new again.In the five years they lived in the home the owners replaced or renovated the following:AC, dishwasher, windows (double paned with blinds in between panes, can open to reach the blinds), flooring (throughout was very nice but I'd replace the peel-n-stick with laminate so it would be laminate throughout), sheetrock, texture, and paint throughout, ceiling fans and light fixtures throughout, sinks in both bathrooms, chain link fence dog run added, and a storage shed.Other positives:  I talked to neighbors and they are very happy living there, there is a beautiful and big rec center, gym, kids playground, monthly potlucks, people wave to each other as they drive by, there's a craft group that meets, etc. 

Trying to cover it all up and masking it will probably be a mistake.  

@Obaid M. ask to see proof of rental history from the seller and if property is not far from you go talk to the tenants and find out if they plan to staygood luck

I typically peel $100 per door off of the rent, before applying the 1% rule, to account for property management and pain-***-ness.  

The roof is in decent shape, the exterior paint isn't peeling, the carpet in the house is old and has some stains, the cabinets and appliances are al outdated.So given the above scenario ad using Conv. financing vs an FHA loan ......

I have some minor peeling and flaking that needs to be looked into. 

@Daria B.Livable condition includes things like the roof, plumbing, electrical, flooring, walls, ceiling, no peeling paint and cabinetry being in place and working order for someone to move in without a hazard etc.