A flipper would remove walls make it an open floor plan new cabinets granite, refinish the floors, paint, etc. etc, but a buy and hold would just do a carpet clean and put a tenant in there.

In expensive areas finishes are at a premium that is disproportionate to their cost, for example a granite or quartz countertop and new kitchen cabinets cost maybe $10k to put in but in an $800k house they may command a $30k-$40k premium over a home with a 1970s kitchen, I'd go for dated but functional and do the upgrades yourself, much more value that way.2.

ALL bathrooms upgraded granite & tile.

If all the homes in the area have granite, then you should probably do the same. 

After that if you are putting in granite, or other high end finishes you should think twice.  

One house we are doing now, we have a 9 foot span window in the kitchen instead of a backsplash and the granite goes from the inside through that window to the outside, with a bar on the otherside. 

Add a half bath on the first floor or basementSW Philly, North Philly in 19140, West Philly between Lancaster and Market: 50-60k-Laminate floors, central AC option, finished basement optional, carpet upstairs, open up kitchen, lowest end granite or high-end Formica. 

You'll be able to walk through a house and go "5k for this, 2k for that, 3k here...etc"Till then, you could visit your local suppliers of cabinets, granite, flooring, roofing and see what kind of prices they charge including installation.

They are small but efficient and gleaming with stainless and granite. 

. $8,964,-Phase 3: Interior paint/ Install kitchen cabinets and granite countertops. [5 days] Install bathroom vanities, toilets, sinks, tubs.Install hardwood flooring, Install baseboard heating, electrical, and plumbing.