Then I look at cost of repairs, does it need paint and carpet, or does it need new roof and a foundation repair? 

Yes it is a HUD and probably needs carpet and paint and a bunch of other stuff, but people think they still must be a deal.

Firstly I apologize in advance for my newbie question but as a first time RE investor, i am in need of some experienced advice- if installing new carpets over laminated flooring will directly impact the value of a property when reassessing it for future equity.I recently just bought a small property at much lower market price and plan to spend time and money to refurb it then rent it out.

We hired someone for drywall, HVAC,  a glass block window, carpet and a flat roof replacement.

I'd suggest working a smaller area that you aren't competing with them to purchase.We sold one in Jacksonville a few weeks back and the hedge fund actually replaced brand new carpet because it didn't match the color scheme they wanted.    

What I'm thinking is offer full price by request 16% sellers concessions, 10% for closing costs + part of down payment, 6% for repairs/cap ex (new paint carpets etc)Would this work? 

While you're down there, check the vents for holes and pipes for leaks.If your basement is finished, first check under the corners and sides of your carpet. 

New carpet, maybe new paint, new bathroom, updated kitchen etc.But when you do the math at just a 5% DP you only pay about 150 a month (not including other expenses).

New paint and maybe new carpeting in the bedrooms. 

Gross income = $11,466 (assuming 9% vacancy loss) annualEst initial Expenses: $15K totalProperty requires the following est 'rent ready' improvements: New carpet in 1 room, new back doorwall, main floor bathroom updates, new fixtures, paint, etc..No central AC; I calculate based on comps I could get $100/mo. more with AC.. est $3-5KAdditional initial expense risks: Water seems to be leaking through cinder block foundation in 1 spot... no idea how much this would cost to repair/mitigate.Furnace looks very old; city winterization report shows it was functional, however no clue how much life is left...Recurring expenses:Taxes/Insurance- $4,450 annual // $379/monthVariable cost PM (10%), with 9% vacancy loss-  $96/moI assume $500 annual expense/repairs plus $100/mo in reservesI assume $300 annual advertising/admin expensesTotal annual recurring expenses = $6,592NOI = $4,874In order to net $200/mo cashflow with PM (my own arbitrary target for my market) and yield >9% cash ROI, I need to purchase this property for $45K, assuming a 30yr, 20% down mortgage.This property would yield (with PM): $215/mo cashflow, 9.75% Cash ROI, 11.79% Total ROIThis property would yield (without PM): $310/mo cashflow, 14% Cash ROI, 16% Total ROIFinal rent/price ratio would be 2.3%thoughts ?