It's a 1950s SFH...kitchen cabinets & countertops need to be updated. 

Hi Lance - I just bought my first home/investment property in the Farmers Branch/Carrollton/Addison area and have plans to update the kitchen and bathroom before I move in and do some kind of house hack. 

If the kitchen an bath rooms are 30 years old you may have to start planning to replace them sooner than later.

It needs too much work (we are not sure yet how much the rehab will be, working on getting an estimate now. 1800 sq ft needs two baths, kitchen, floors, lots of walls, a few windows, heating system at least.)The bank is asking 99k, it just came on the market.

Two of my lenders sent their "closing cost" estimates for a loan amount of about $50k.One guy seems to have included everything and the kitchen sink (termite inspection, entire year of home insurance, courier fee, etc). 

I feel like it would be hard to read a book to learn how to quickly determine if the loop vent under a kitchen sink was installed properly. 

If they are in an apartment I put just a few drops in the kitchen or where they have seen them. 

These are commonly referred to as C classOrder a third-party property inspectionMake sure the property has been rehabbed to turnkey quality that will maximize your cash flow (roof and HVAC updated, ceramic tile it kitchen and bath, vinyl plank hardwood in high traffics areas, durable carpet installed in bedrooms, external fences and buildings addressed during the rehab, supply hoses replaced under the sinks, etc) otherwise your cash flow will go to maintenanceBe skeptical of the one-year tenant warranty, that just means the turnkey provider is making a abnormally large profit who uses gimmick marketing to secure investorsVerify rent range through other property managers, Craig's list and ZillowAsk if permits were pulled during the rehabIf a tenant is in place, ask to see the tenant fileRemember, you can fix the house, you can fix the tenant, you can fix the property manager, but you can't fix the area.  

I'd pick houses with power and water so you have a working bathroom/kitchen.

However, two years ago we did a major remodel of our kitchen - $15-16K - and more recently have updated our bathrooms  - $1000-1200 - (new toilets, floors, fixtures).