It likely needs new everything, new plumbing, new electric, insulation, new windows, new smoke detectors, and plenty of other cosmetic updates. 

It is a SFH 1,700 sq/ft 3bed,2bath updated, owned solar, great neighborhood and school districtCurrentlyMortgage $2,800 (P,I,tax, insurance)Purchased at $545,000 in 2013Loan balance $425,000Home value $750,000 estimatedRate 3.25%, 30 year fixedSale $280,000 profit est after fees, fixes, closing, etc, I have lived in it for several years so profit would be tax freeAssuming again a $750,000 appraised valueRefinance rate 3%Refinance cost $3000Pull out about $200,000New Loan for $625,000New Mortgage 3,300 monthI could rent it out for around $3200-$3300 estimated, I would manage it myselfOptions1) Sell2) Rent3) Refinance with cash out and rentIt seems like a good idea to refinance and rent, if I did sell, I would invest in other properties like multifamily properties with better ROI.

The TX legislature updated the law in 2018 to remove the "once an A6, always an A6" issue, but I've found some lenders aren't aware of the update and I've had to point them to the language in the actual law. 

Updated and Reposting, since the last one came out as part of a quote.These are just my observations and guesses, I am not saying if I favor them.Summary: CoronaVirus's Impact has LOTS OF UNCERTAINTY, and will impact to the US economy.1.

As a licensee, you're required to disclose this to any potential home buyers/sellers at the first substantive contact.

Does it financially make sense to purchase a home in a city you will be working in for 6 months, do minor updates to and then refinance and rent after you leave.

I feel that this is a stupid question and I should know this but I don't want to be caught with my pants down having an ARV influenced by houses that have no updates.

I purchased a duplex in September and put 25% down but want to do a bit of rehab to the property (new windows, flooring, update some of the kitchen).

It was functional as is, but hadn't been updated since built in the 80's. 

My numbers are really conservative, in Bradenton- Sarasota, Fl, it should be renting a 3/2, corner lot, update it,  for $1550 to 1590 a month, ARV should be $ 150,000 .