Needs mud, paint, finish the floors and some minor trim work.

AFAIK, anything hanging over onto YOUR property, you can trim to the lot line ONLY, but, as always, check local laws.

As the OP said, the tenant's dad is a high-end builder....they tend to come in with the attitude that their 36 old princess daughter now should get all  the trimmings in a rental......a lot us "feel" and see this coming. 

$800 of unplanned tree trimming and removal later, I learned to not forget the trees.The first house we acquired was in a new development with no trees so I never thought about the cost of maintaining them.

We're putting new trims and baseboards. 

I did a lot of the work myself- electric, cabinets, flooring, windows, doors, trim, etc. and lived in it for 2 years after building.

In the past I have purchased block homes with termite damage to wood trim. 

Mostly what I would be doing is prep work if there is a time period before the contractor can start, or finishing work such as trim and painting.

I just found a painter to do an entire 1,600 sf apartment (walls and trim) for around $700 labor -- if he's good, I'll use him exclusively for painting and have my handymen take care of other items.

I say preflip because what we do is go into a property and trash it out, spray all walls ceiling and trim eggshell white, spray the outside of the outside with kilz2 with a color tint one color, clean the lawn, cut it and put mulch down.