Long story short I'd like to put it now on the market again in the next couple of weeks and curious if you would just try go with 'slap lipstick on a pig' or should I try to spend some serious dollars on upgrading the place (or something in between). 

,,,,,the good news is you aint gonna have any coins,toothpicks ,Bic lighters,pagers,lipsticks,pocket knives,cold cream jars, or little bitty plastic Teenage Ninja Turtles fall down that cotton picking drain with a good healthy ,,,GRID STRAINER !!!!

For those wishing more doom and gloom:http://usawatchdog.com/hyperinflationary-depression-2012-2014-mainstream-media-keeps-putting-lipstick-on-pig-economy/or maybe some would call it reality.

Now, this isn't likely to happen with you, especially if you're just doing a basic "lipstick" rehab on the property.

I assume (with no actual data to back this up) that there will still be plenty of people that don't want to live in these massive, communist block style with granite-and-tile lipstick housing complexes. 

Where I am in NY I have a few friends that are involved in mobile home park investing but one of the issues is the trailers are so old and you can't simply put in a new trailer without upgrading the lot which many times is more expensive than throwing lipstick on the pig and remodeling the single wide.

I'd look for a lipstick deal @Tim.  

Taking a lipstick approach to rehabbing.

Really trying to find something that just needs some lipstick and not open-heart surgery. 

There are no shortage of lipsticked pig properties out there, and learning to spot them is essential for successful RE investing...we're all susceptible to "shiny object syndrome", but being aware of it is the first step to avoiding it!