Based on already knowing cost for what needed to be replaced we could get an idea of cost.My local REI has a contractor member that has given out a cheat sheet of sorts that has material cost (updated as cost changes) and typical labor charges (also updated as needed) for several things like roof, flooring, appliances, cabinets and counters, windows, painting, etc. 

The house does need very minor repairs such as paint, vinyl floor is pealing up in a few rooms and dining room has wood panel walls I was going to dry wall instead. 

Plus after a year or two, lenders will recognize a portion of your rental income when go to buy the next property.My wife and I began with a duplex that was more or less turnkey, we did a little painting and a little minor foundation work. 

Standing on a 40 foot ladder, in the wind, with my wife holding the base of the ladder, while I scraped and painted.

I'm considering starting an apt. prep business (cleaning, painting, minor repairs) and would like to get your first impression as a property owner and/or manager.

You've painted some broad strokes here.

Insurance will cover mostly new flooring & painting on the walls, but that's about it.  

From the pics, bringing it up to rental condition looks to be largely cosmetic (painting and some drywall ceiling replacement), so COULD be less than $10k.

Anything that appears to be a health or safety hazard on a potential property needs to be repaired BEFORE  it qualifies for financing.2, sellers usually are willing to make/pay for minor repairs such as chipped/peeling paint, cracked windows, exposed wood or things of that nature.

Persistence beats resistance every time.