It had old styles and worn, but liveable with new carpet, but we have redone everything (kitchen, bath, doors, hardwood floor, all light fixtures and outlets, and finished basement). 

first thing i would do is focus on curb appeal. pulling weeds manicuring the lawn and adding flower beds with mulch and plants is a good way to start. you do want to spend some time in the kitchen and bathroom's there main selling points of a house. a good way to add value would be to expand the living area in the basement and attic areas if possible adding a bedroom or bathroom would certainly add good value. hardwood/laminate flooring is highly desirable. obviously you want to paint the house.

Needs new paint throughout, refinish the hard wood floors, and new kitchen and bath.I want to offer $250K which with estimated holding costs, closing costs repairs, and 5% commision comes to I believe 72% of ARV.I believe I am being cautious with the ARV and it MAY be end up being higher but I rather be cautious than think I can get 400k and use those numbers...My realtor doesn't wnat to give me to much advice on ARV...I am in the Northern NJ area....Any opinions?

The house is 2500 sq ft with hardwood floor throughout and we are asking $1750.

The upstairs, all we had to do was paint, refinish the hardwoods, and reno the half bath.

I almost always go with laminate floors in all of them unless the original hardwoods are in good shape. 

In order to not bury the lead... hardwood, hardwood, hardwood. 

To keep rehab budget in tact would it be hardwood in Living room dining room, or granite in kitchen?

Upgrades that help keep long-term tenants, in my experience: decent counters & cabinets, a fenced-in yard (privacy with landscaping a bonus), off-street parking, flat outdoor entertainment space (deck, patio, etc), low utility bills, central heat & air, dishwasher, no carpeting (hardwood or laminate floors), main floor washer/dryer hookup, good storage (clean dry basement/attic, storage shed, etc) .

If I don't have hardwood floors, I use tile, it lasts longer, easier to clean, and water doesn't make it expand.