The house has to be in " Liveable " conditions , before you can close on the house,Unless the seller is willing to work something out, I.E. put the amount of money needed to get it to pass the FHA's liveable guidelines, by putting the money in an Escrow account ? 

The rest of the work, restoring the property to livable condition you can have a regular contractor do at regular rates. 

From an ROI standpoint, the best ROI items are the things that will take the house from being unable to allow a buyer to qualify for a loan to a house that is in good enough condition to allow the buyer to qualify for a loan.Beyond that, there's not enough information to answer your question. 

And just look at the reply immediately above yours, which repeats the same nonsense.I guarantee no more than three calls to established brokerages are required to list a house in any condition.

Then a month later he was running short of funds (he was doing several rehabs at the same time) and he borrowed against the same home which now was in much better condition.

I don't know your market or the condition of your home, but I have found these numbers to be helpful with my properties.Again, I know nothing about your market, but I can tell you that one of my properties in Atlanta has a very similar valuation and rental rate, and the actual bottom-line monthly cash-flow is around $400, all expenses paid.Hope it helps.

It brings up a list of every tenant that meets your requirements, a list of ones that are approved with conditions, and ones that do not meet.

Do drive bye's first so you can see the neighborhood, the conditions of the roof, dead/dieing trees, driveway concrete issues, etc. before asking your agent to set up a showing. 

When considering re-glazing or replacing a tub, you should take a good look at the condition of the existing tile and grout as well as the seal along the top of the tub.

Usually, what will be difference in terms and conditions between them ?