I would be concerned of "what else" they didn't feel the need to upgrade that you might not be able to see.Again always cover the fridge. 

I think my concern is less about durability to normal wear and tear, tenant preference, and cost.

I mean the bronx housing stock seems very run down on the interiors as far as im concerned.

My concerns are the same as any other newbie.

No it shouldn't, your concern should be are you paying a really fair price of $60, and not if I am making $1 or $30, greedy people will want a chunk of the $30, but never offer to give me more then the $1 when that is what I'm making. 

But thank you to all who have expressed their concerns, and keep the discussion going.

And thank you for the tips concerning  Keyword Alerts and The Ultimate Beginner's Guide to Real Estate Investing!

I would definitely talk to your bank that is giving you the line of credit and ask them to convert this home to permanent financing now that it is renovated.  

If you're keeping the rental long term AND you have already decided you're going to tile the surround, without a doubt replace the tub now, it's money well invested.Reglazing is not a permanent solution, there are limitations to use that a renter won't honor either.

I include the following: Tenant understands that any judgment or collection activity concerning Tenant’s default on rent payment could adversely impact Tenant’s credit rating.As someone else recommended, be sure to familiarize yourself with your state's landlord/tenant laws.