Updating it will attract better tenants, and that may lead to less turnover.I would look a new light colored cabinets, new countertops (preformed laminate, nothing expensive like granite) and new (or used) matching appliances for the kitchen.  

In addition to that description I can say that kitchen cabinets would probably be in the 5k to 10k area and floor tile in the $2 to $4 sf range.  

I have one estimate in hand for painting the complete interior (including kitchen cabinets) and complete exterior for $10.5k.

New Roof, New AC/Furnace, 21 new regular windows, 6 new basement windows, 4 new metal doors, 16 x 66 blacktop driveway, new kitchen cabinets, sink, faucet, dishwasher, microwave and stove, new vanities, sinks and toilets in the bathroom, refinish hardwood floorsI'm pretty confident I can get $275,000 for it

Flooring,painting,baseboards,kitchen cabinets,countertops?

the rehab your describing in most markets would be 20 to 30k.. using nice cabinets slab granite .. good fixtures builder grade stainless appliances.. stuff you would do to retail the house.

One flip I renovated there we found someone  breaking in and sleeping in one of the units at night and putting his blankets and pillows in the kitchen cabinets during the day.

I saw several business cards when I visited, so it is showing.3 bedrooms (master large, other 2 small)2 average bathroomsCHA, separate 2 car garage & workshop, on 3 acres, close to everything, nice areaGood kitchen with stove n DW; water heater, cabinets in good conditionSecurity system in place, good roofCons:Floors somewhat bouncy, thresholds little higher than necessary, hardwood floors, some linoleumGalvanized plumbing (ugh!)

My tip is do not forget to sanitize the cabinets as well.

Hardwood laminate flooring, newer roof on one building, some units have new cabinets, fencing & appliances.