Nicer houses will require a new backsplashAppliances – Are the appliances OK?

One unit has just been totally redone inside, with all new appliances, flooring, paint, fixtures, etc.

.- Stainless steel appliances/granite countertops/hardwood flooring: Are they worth the investment?

The kitchen appliances alone are around $4,500 - $5,000 and that's on the low end.

The flip house took on one foot of water, but the silver lining is we have not installed any floors, appliances or new cabinet doors yet. 

Mr appliance was sent out to the property and he determined that there are two buttons on the fridge that when pressed simultaneously it puts the fridge into demo mode effectively shutting it off, which is what caused the fridge to stop working.

It seems that all appliances are almost brand new and the place doesn't need any work anytime soon.

All in, we are spending about $50K on the renovation and hitting high value items like kitchens, bathrooms, appliances, lighting, paint and trim, etc.In section 946 of the tax code, there is a run down of what useful lives you can use when you spend capital on a residential rental property.

Have repair skills Hvac, appliance repair, plumbing, flooring sort of you name it I can probably get it done.  

If you want to move forward, come to terms with regular maintenance items - broken locks, appliance failures, etc.