Usually when using either 2", 3", or 6" tile you can get away with no cuts along the top where wall cabinets are.

She also said that flooring and cabinets in need of updating are considered cosmetic so it will come down to how the appraiser presents what it found.  

I wouldn't put too much money into it, probably paint the kitchen cabinets and move some other things around in the kitchen, update the bathroom (possibly a gut-job), update the fireplace and flooring throughout, and paint the other rooms.

I already have all the wood flooring, tile, kitchen cabinets, kitchen appliances and misc.  

Then paint the soffit, cabinets and trim a nice white.

Do you have any existing fire extinguishers or empty fire extinguisher cabinets with missing fire extinguishers if you do then definitely they will need  to be recharged re-certified or replaced .I own a fire extinguisher service company in Broward and I can tell you I've seen apartments  plex's both with and without fire extgs even though the state code may require them enforcement vary's from city to city fire and inspector has discretion. 

If you are talking about apartments that are bigger than an efficiency or a studio, I think tenants expect a kitchen big enough to fit normal size appliances and adequate cabinet space. 

I also have wholesale accounts set-up for cabinets and the like so we save money that way as well.  

The bathroom cabinets looked like something from a oil change garage.

The bathrooms need toilets, tubs, lights & vanities; the kitchen needs cabinets, countertops and appliances.