However, it is need of some modernization(kitchen is 30 years old, plumbing and electric need updated, paint, etc). 

@Keith Jourdan it's an interesting time. Rates

I bought it sight-unseen, and the day after closing, I found it had no kitchen.

For example, there is a big difference between having a 5 and 15 year old roof.A contractor won´t necessarily notice any of that stuff, especially if they are focusing on cosmetic updates to kitchens, bathrooms and floors. 

Bank turned off electric, sump pump couldn't work, flooded basement, and caused mold in house, had to gut all walls, ceiling, insulation, baths, kitchen, floor covering, everything to the studs, and needed new roof, new electric, new heating and most of new plumbingOther than that it was a slow year! 

Some of the "old-timers" who've responded can probably give you insight into the neighborhood. 

.- replace front and back doors and door frame (2)- plumbing/wiring for Washer/Dryer hookups- get kitchen outlets up to code so appliances work safely- paint and add knobs to kitchen cabinets - kitchen sink fix (replace faucet)- insulation of windows - plastic lining- make sure smoke detectors are working/to code- get garage door working - needs to be hooked back up - exterior siding cleaning OR paintingLet me know if you think this sounds reasonable or not...

. -  He works all through out Hudson and Nj and seems pretty knowledgeable.Maybe "denied" wasn't the correct word for this part but we had some Hi hat lightings in one of the kitchens that got denied or additional information was requested due to potential fire hazard with the electric.

Kitchen was done but more was needed.  3br/1ba rents est @ $800/m.  

The kitchen cabinets looked like they were from the 90s.