Gutted the home and updated all appliances, hardwood floors, paint etc.

My gut is you can do better than that.  

Take your time, do your due diligence, and trust your instincts.

They instead focus on fully gutting their projects and install entirely new kitchens, bathrooms, fireplaces, accent walls, etc. and any exterior or mechanical upgrades necessary.While I understand this whole hog strategy, part of me says this will end up increasing the value of a home so far beyond other homes in the surrounding area that it wouldn't sell for what it's likely worth.

You acknowledged that you were scared of the Detroit market, therefore as the old saying goes "Trust your gut" and there is your answer.

A drywall guy once told me that a quick way to calculate a whole house worth of work is to multiply the living sq footage by 3.5 then divide that by 48 sq ft ( 12 ft drywall ) and then multiply times per sheet cost.This is probably more applicable for new construction or full gut jobs.

Hello all, I just purchased a property that is in very bad condition and will require a full gut job. 

This is a math and a 'gut check' problem.  

What does your gut tell you?

To answer the question you have to assume the entire interior needs 100% gut rehab