Without a doubt, kitchen remodels, master bath remodels, curb appeal (front lawn, rear lawn, shrubs, flowers, clean driveway, new garage door, etc), and fresh paint and flooring will bring you the most value add.

@Christine Taylor, no formula; just whatever you feel you can squeeze out of the deal as a worthwhile and optimum return for your time and effort.I hear of guru-fresh newbies saying: "I will settle for just $1000 for my first deal, so I can get a quick turnover".

I'd rather start fresh with screening a new tenant myself. 

Always good to have a fresh set of eyes on things as well.

Being very fresh, I'm still very nervous, but I know where I ultimately want to be, and that the hardest part of this will be property number one.

Minor repairs, patch holes, etc.. then a fresh coat of paint and he is usually done by the end of the next day.I try to stage supplies and contracts/handyman for the day after the tenant moves out.

Tell the tenant that you do not allow pets in freshly renovated units.

I've solved many problems that were more valuable than could be assigned to the property.Search "distressed properties" then look at the definition of "market value" as to the legal and economic and appraisal applications, best to look on an appraisal site.Real estate isn't like buying clams in or out of season, getting what the market will bear simply because you find someone that will agree to pay a price, search "predatory real estate practices" real estate is highly regulated, fresh clams, not so much.So, to say what is the average spread.....isn't one really, it would be ever changing.

Today we visited the property and spotted dog footprints in the fresh snow starting at the back door.

It is on a hill and the foundation had shifted, so the contractor who came out with us said that it might be better to tear down and start fresh.