What items look the most dated?  

Usually once your company is in the system, it won't take as long to add more units.One of those pamphlets you picked up at the Sect 8 office should have a list of all the items the inspectors look for when they do their inspections.  

I understand getting the seller to hold any paper solves all this but I'm looking for methods outside of the traditional.

Other investors stayed away because it was obviously not going to be a traditional, cash-flowing property without significant expense.

I have done this with properties I own cash and I have just gone the traditional mortgage route with my local bank.

As a real estate agent, the owners look like a potential client base who might want to move "up" to a traditional (stick built) home.

For rental condition, make sure everything is clean and functional (and safe) and has amenities similar to those in your area and price range.... no need to make it look like HGTV after shots...Some of these items you list sound cosmetic and it may fair well in your rental market as is or with just some minor fixes (again, I would look at similar units for rent (not sale) in the area to get an idea if formica and older carpet is the norm in your area and price range...)And I would simply look at temporarily blocking off or restricting the fireplace use, clean the carpet, tack on the molding.

Yes, this is for a traditional single family home. ...thanks!!

Every Agent works differently, For me, I treat Wholesalers and Traditional Investors as different categories of buyers in terms of services.

If I wanted to go traditional and find families to rent to, it would probably bring in $4,200 a month.