Also, depending on the cost of the rehab (which sounds expensive) I would think that the end buyer is going to see that and think that "everything" has been updated and the house is totally modern.

IE all tile bathrooms.. nice modern cabinets slab grantie .. 3 colors in the house all designer paint etc etc.  

I'd paint all of the cabinets grey, get modern pulls, replace the countertops, faucets and lighting fixtures.

Originally, as stated I intended to flip the house, but since I have decided to rent the property out after updating and modernizing it (FHA requires I live here for 2 years :(.)

I'm in escrow on a house 3bed 2bath with 2car grarage which we plan on coverting to ADU, for the ultimate house hackbefore aprasal and inspection we made an official offer at 630k. home inspection results had good foundation and plumbing, but roof needed to be replaced in a couple years, electrical needed upgrade, and we want to remodel kitchen and bathrooms to more modern style.we made counter offer at 620k and not sure if this a good deal. 2 comps from the appraisal range 640k - 670k and in the last 12 months 62 comps from 520k - 755k. the Plan is to rent out both rooms for a year then rent all afterwards and hopefully have the ADU done also. thanks everyone

Its not rocket science. 

I get nearly all the capex out of the way and I have modernized the units rather than slapping new items in with antiquated items.I look forward to more discussions like this.

Business and real estate has science applied, but it is an art to master.

This midcentury modern bungalow on a wooded lot in Laurel Canyon, was purchased by DeGeneres for $1.3 million in 2004.

There is something to be said (in my area at least) for apartments with a little more character than the modern boxes build today.