At a minimum, it should be a 5 year view, and then the investor will have a better long-term perspective, and the seller will not look like he misled them.I feel that 10% - 20% of your rental portfolio (depending in its quality and management) will be performing sub-par at any point in time.

From a paperwork perspective there's probably not much benefit to a Custodial Plan, though. 

They can tell me the neighborhoods that sell faster, common red flags (flooded basements to stucco issues), the features and upgrades that most matter from a renter/buyer perspective, etc.

Jonna is also a great resource and help and has been here longer, so you can have the Idaho newbie and Idaho seasoned vet perspectives!

This is an interesting question because it really is a matter of perspective.

While the cabinets could be saved, refinished, and add new hardware along with new granite countertops and the new cut in and plumbing for dishwasher, by the time I do all of that, it would only cost me about a grand or two more for brand new, and new in the kitchen always brings the value at exit so it is typical in my case and in my area to gut and start fresh.

I have not consulted a contractor ...and I've looked up the comps myself based on what I have learned..I have verified findings with a realtor at this point.. .I haven't heard of many investors using a contractor for estimates to wholesale ...at this point I'm really starting fresh and educating myself as I go...I have a thread I'm reading on estimates right now although it seems geared towards rehabbing its great info

You've given me a broader perspective on the subject.Mike

So from my perspective with limited information, it might be worth just selling this as a NEWLY REHABBED PROPERTY as @Lynn M. 

The connections I have made, the knowledge I have gained, the bigger picture that I had not seen prior to Real Estate Investing...I look at things from a whole new perspective now!