I was a General Contractor for 10 years before becoming a Realtor (my back thanks me every morning for the change in employment!). The company I owned specialized in kitchen and bath remodeling. This gives me a unique perspective on your situation. I have viewed the home on Trulia and I can be very direct in my answer: you will be much better off selling this home as is rather pouring all the blood, sweat and tears (and cash) necessary to bring it up to "move-in ready" standards. Even the most effective "bang for your buck" remodel will return at most 70-80% of the cost in enhanced home value. Put another way, if you put $20,000 into bringing this home up to today's standards, you would, at best, get $14,000 - $16,000 back in enhanced home value. I would budget an amount not to exceed $1,000 to do the most cost effective improvements. This would include fresh paint and repair of the obvious items. And I would make sure that it was "hospital clean" and totally clutter free. It should be well lit, bright and cheery. I have worked with a number of Buyers and Sellers in Lakewood and know the market well. Please call me at 303-994-5815 or email me at firstname.lastname@example.org if I can be of any service to you.