I am not explaining myself appropriately. 

Whatever the least amount of money out of pocket (downpayment and repairs) that returns an appropriate amount of cashflow after debt service is what could help you make a decision.

Changing that out would not be at all expensive for a kitchen that size, I'd at least price it and see what you think.Basically, the rehab you're describing sounds to me like what would be appropriate (at least in my area) for a low/mid level rental, not a fix & flip.

Additionally, the home is livable with minimal rehabilitation. 

you have set up more things than me... just have them either email requests and you can forward to appropriate people. or just call the maintenance people.

. - Have appropriate standards for tenants.

If you are talking about housing that may meet the needs of a person with a disability, let your local DVR (Department of Vocational Rehabilitation) office know you have available housing.

------------------------------------------I have been reading through the organization of a REIT, but the requirements in our country dictate a minimum 5million starting capital - while this is our goal and would be fantastic, I want to be able to operate if we still fall short of that funding.Lastly, it seems to me that perhaps a corporation selling private common stock shares would be the most appropriate?

I just want to know whether this is appropriate.

Prepare the unit to be renter-ready and send them a bill or return their deposit as is appropriate.