Kitchen Cabinets - If they are in food shape, just refinish them and add door handles.

Also some engineered floors have a thick enough wear layer that you can sand and refinish them.

This way you only refinish once and what is there remains intact for you to cash out on later.

I may be wrong about this, but if I was going to buy from the city I'd field that question on BP and see what people had to say about it, and how their experience was. 3) Lastly, about the particular deal you're talking, I guess more particulars would be needed. 1/4 of ARV would be great if all you need to do is refinish hardwood floors, but if you need a roof, new windows, cabinets, plumbing or electrical work, paint all around, siding, tuck pointing and I have no idea what else, you could be approaching market ARV just putting your repairs in!  

A couple years ago I furnished two 1BD/1BA apartments in Indy for about $2500/ea by teaming up with a good friend who had a booth at local antique mall and was a pro at finding deals and refinishing older furniture which tends to be better quality and more unique than new Ikea stuff. 

Examples of what it needs: new windows, hardwood floor refinishing, doors, tile kitchen floor, light and bathroom fixtures...Any thoughts appreciated. 

Depending on current cabinet condition, you could refinish them and add new hardware and then update backsplash and counters.

My guess is your asking price is too high.In my market, even if the house looks decent, rehabbers will generally be updating the kitchen and bathrooms, refinishing the floors, painting, etc. 

Middle to upper class is a big gap where I am, but for middle class tenants this stuff usually suffices for cosmetic fixes:1. fresh paint2. new carpet, or re-finished hardwoods3.

@Matt Vaughn First of all that's a great question.Not knowing the finish on the two remaining walls I'll give you my two cents.If the walls have some type of Orangepeel texture (As is common in (Southern California) I would leave them in place and just refinish the walls.