Maybe the carpet needs to be replaced right away. 

We'll do granite there and the bathrooms, do some tile, some wood, new carpet, paint in and out.....and of course, the grandmaw wallpaper has got to go.  

So let's say you walk through a house, and in your mind you see carpet, paint, new kitchen, new bathroom, one wall removal, popcorn ceiling removal and general cleanup. 

I'll bet that the Federal Government has probably spent millions of dollars in research and determined that people will continue to die owning real estate and leaving money messes for their heirs to clean up.

Now let's say 10 shown up and none of then like the place but track mud and dirt in so you need to clean it up and start over.Joe Gore

The wholesaler finds a deal, cleans up the property and gets it ready for the rehabber's to come in and start work.  

Attempt to engage the property owner into action that will "clean up" their property.5.  

Your unit hopefully will not need changing of carpets, window treatment and double or triple coats paint.

If one goes vacant I would need to fix some plaster, do a ton of cleaning and paint the entire interior.

So, if you do this, work on cleaning up your credit so you can refi if the loan does get called.