Eric you can get a nice rug for each bedroom with a pad underneath it for around 70 bucks.

We use electronic key pads when renting SFHs.

@Robert Conroy Those basement systems when I looked into them were almost the same price as a local basement remodeler without the ability to easily make changes in the future(which doesn't matter as much to you I realize).Personally unless it is a really bad DIY job or your target price range is high I would paint the paneling a light beige color to brighten it up put down some new carpet from Home Depot without padding (~$0.69/sq ft + $150 install from a local installer from my last basement job) and call it good.

Maureen, please put the brakes on.

First, remove all carpet and pads.  

I'm looking at a 5 acre spot of land in central FL, mostly for personal use.  I live about 1.5 hours away.  The owner has a large storage unit that he has made into a small cabin and installed an RV hookup, though the...

I would hold it.Reason 1: If you are fixing it up and putting new appliances and such your chances of things braking are much lower, and cash flow goes up nicely, and tenant don't call as much. 

Another idea is turning a couple rooms into pilot/flight attendant crash pads if your close to an airport.

write down the address on a pad or paper and then enter them into excel when you get home.  

Even then, full gut could mean a basic job, or digging out the basement, adding a floor and or a rooftop deck, an addition in the rear, pouring a parking pad in the rear etc.