There is no given answer here, because the whole property needs to be relatively consistent.Kitchens and baths are the common answer, but if they are passable and you choose to invest in them anyways at the expense of peeling paint (or off putting exterior color) and overgrown landscaping, the appraiser and tenant will be walking up with a bad taste in their mouth, thereby not valuing the interior work you have done.But think about the general flow of someone looking to rent: more bedrooms will typically dictate more rent.  

But it's a 3/2 and I think I could rent it for $1000-1200, has a lot of NEW things already in it (AC/heating, kitchen cabinets, appliances, flooring) but bedrooms need to be finished remodeling. 

The cabin I am currently looking at is a two bedroom (one room is a loft) with one bath.

@Spencer ManningYour other questions were answered except for last one.S8 vouchers are for a specific number of bedrooms and rent amounts.So, a S8 tenant must find a property with rent that does not exceed their voucher amount.This stops S8 tenants from renting Class A properties and most Class B.Currently, Fair Housing does NOT protect source of income, so unless a state or local government has passed a law stating otherwise, landlords do NOT have to accept S8 vouchers.

Quote from @Jonathan Greene: 2 bedroom single-family homes are great rentals because they cost way less to buy and don't rent for much less than a 3-bedroom home.I'll second this.

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).

The property is a 3 bedroom, 2.5 bathroom townhouse. 

I came across a 2-flat with a basement that has been converted into garden unit with 3 bedrooms and kitchen and bath.

Purchase price: $1,900,000 Cash invested: $750,000 12 bedroom, 12 1/2 bath, home built in 1905 that was previously a rooming/boarding home.

I am thinking a 2-3 bedrooms and minimum 2 bathrooms.