The property needs to be acceptable, safe and in working condition but you probably don't need new cabinets, counters and flooring unless what you have is garbage.

There will be significant wear and tear, so avoid adding things (garbage disposal, dishwasher, etc) that will be high maintenance or expensive to fix - these things will be broken.

Biggest advice is get it appraised so you're not overpaying, and do all your standard due diligence (verify leases, security deposits, police calls to the property), as some sellers may try use the seller financing to unload a garbage property. 

Way too much and way too long.This kind of garbage is why I never referred to myself as a landlord. 

Or hers because she most likely let in too many flies and they ate her garbage and laid eggs and had nasty maggot babies?

I had to have my climbing shoes on because the heaps of garbage were taller than me. 

With hostfully+ zappier I have an Excel file with all my info....I use this file for marketing, projections, and most recent automation to text guests about moving garbage can.

Regarding the 1% rule... it's garbage.

This could include guidelines on noise levels, parking, garbage disposal, and other common concerns.

Example: 750 with five open collections = garbage. 650 with zero collections / negative reports and $30k savings = yes.