What happens if the house you buy needs interior paint and carpet only?

I am assuming a big discount due to cash only and no interior inspection. 

I'm questioning though whether it might make more sense to put the exterior photos of the condo towards the end of the photo gallery as there isn't much about the outside of a condo that's exciting and using one of the best interior shots might convert better.

You can control and budget your own CAPEX some for interior elements (like your own floor laying and the above schedule, for example) but for the association not so much.Condos are odd ducks, too.

Do you renovate interiors as tenants leave or do you encourage vacancy by raising rents and getting the rehab done more quickly? 

Properties are all well kept, interior and exterior, and they all have Central Air. 

I got a fixer-upper property in NoVA, which needs the complete remodel of interior. 

I would look for rough cosmetic fixer with interior walls you can remove to open up the kitchen/living room space (breaking is easier than building).

Also helps that we fully renovated the interiors while also fixing any exterior issues with the property so realistically it should be low on maintenance costs. 

I would budget for a decent amount of interior and exterior renovations.