It would have needed kitchen cabinets installed immediately...not due to damage or age, but there just weren't enough.

These are the percentages, derived from the facts--hundreds of tenants spanning a period of many years. 

And sometimes small things happen that are easy to ignore such as things moved or cabinet doors found open.

Why the impact is great is because these company literally hiring hundred of thousand of people that rise middle income household family to be in the range of 300-400k making purchase of  one or two mil seems like easy.

We are repainting the existing kitchen cabinets.

Also appears to have stains on ceilings so I am assuming roof leaks - roof replacement.So new kitchen cabinets, countertops and appliances, new landscaping front and back, new bathrooms (2), new roof, paint interior, exterior, repair eaves and exterior wood facia damaged, minor stucco patches, new electrical and plumbing fixtures, new flooring (tile in kitchen and baths, carpet in bedrooms or wood vinyl), and minor misc.-  total should be around $35k to have a very nice remodel. $30k if the roof is OK.

Refinishing hard wood floors, installing hardwood in one room that had carpet, new stainless steel appliances, venting out bathroom and kitchen range hood, all new paint, new light fixtures and door knobs, lots of plaster and patch work, new fixtures in bathroom, keeping tiles in bathroom and shower but doing a super heavy cleaning, refinishing existing bathtub, new glass windows (new glass not entirely new windows), nee tiles and grout for kitchen floor, sanding and painting cabinets (nice and white) in kitchen, keeping existing countertop in kitchen (not granite but clean and looks nice, installing dishwasher....I think that covers it...SO - here is the last piece of the puzzle...the kitchen has a drop ceiling.

Do you think that just spraying the perimeter and around window/door frames with your own bug spray would do the job just as well as spending hundreds on a professional?

I disagree  Not 'against' a process that's hundreds of years old as long as there is full disclosure.Hard money risks aren't emphasized enough. 

I can say this: as a mortgage broker who's worked with hundreds of investors, some of my clients started with just one $100k property and now own over $5M of properties.