Are the parents going to sleep there?

Either way the home would sleep ten. 

Fast forward till now I'm a Banker who understands the market and eats, sleeps, and breaths real-estate.

The thicker the wear layer, the longer it will last before it requires replacement. 12 mil is sufficient for most applications.

Are you estimating that $60k will be sufficient for a complete rehab, or are you just updating bathrooms and a kitchen.

I keep telling myself if it makes money, it makes sense and there is no wrong answer as long as the numbers are sound and I've done sufficient homework.

The kids were sleeping in bedrooms with several inches of sewage on the floor.I went to my car and immediately reported it to family services.

I'd ensure $500k of liability on each property plus a $2M umbrella and sleep just fine at night. 

:Ok, your second best is that the 'guys' doing the roof are actually female doing the roof in their bathing suits on Christmas Eve in the 'burbs of Philly.Third is that they fall in love with the house and want to buy it after they fix it.NO THOSE ARE NOT MY SECOND AND THIRD BEST OUTCOMES, unless I want to go to sleep one fine night and not wake up!

Would you like to sleep on a pillow that strangers have used before (lots of folks even bring their own pillows and bed covers to hotels while traveling).All of the above items and inexpensive to purchase and replace.