For the AZ properties, we have gone out there ourselves to do some work on it initially, to get them looking good (such as, we did xeriscaping), and now they pretty much just run on auto-pilot with routine stuff. 

They'll generally only consider major repairs, not cosmetics.

This property would be a quick turn-around most of the rehab is cosmetic.  

Start with houses that need mostly cosmetic changes and then build up from there. 

In order for them to be appealing to this specific market (city dwellers, deeper pockets, a specific design aesthetic), we could put in about $1k in cosmetic design-related improvements and about a week of work.

After this work was done, they did the total cosmetic fix up inside and out.

The majority of the rehab is cosmetic.

The VA loan is great for cosmetic fixers and up to 4 units; it is a great loan for long-term, little down payment purchases. 

But if the house has some upside potential ( cosmetic improvements that you are planning to make ) a lender that you have built a track record with may write the loan.

Seems REALLY low for a house that needs a complete cosmetic makeover plus unknown other issues.