I wish I knew back in 2011 what I know now; when we were house hunting then for our first house in Eagle there were lots of those in that neighborhood that seemed to sit because of being outdated; if I had any clue what would be going on now I'd have snatched some up!

They countered and requested a lot of repairs which included leveling the back yard and tearing up the concrete basement to replace outdated pipes.

We had an outdated kitchen, which was not a problem.We also needed to show income, either military service obligation or that we had a firm job offer (or contract) in the same career that we had while in the military.  

@Leah LeeThe IRS rule that you can defer all the gain from the sale of a personal residence into a new residence and pay no tax is old and outdated.

When looking at comps how much should I adjust for bedrooms, bathroom, pool, square feet and outdated houses?

In my opinion - use the paint to cover blemishes and hide ugly, outdated wood (like red oak), just don't layer it on til it looks like a wedding cake.

@Felipe Salgado, look for properties that have things like outdated kitchen cabinets, outdated bathroom vanities, ugly flooring.

The units came in good shape and passed the inspection with no major issues but were cosmetically outdated and as you can see full of junk, fun cleanup :) Our goal is to create gross rents of $8550 per a month or $102,600 annually.

The house was occupied by an elderly person and was significantly outdated.

The biggest problems are outdated electrical wiring (no ground), mold in basement, home water pressure of 120 PSI,  improper drafting of flue gases, and the list goes on.