Could always do this down the road.3) Tile is a lot more durable but the nice thing with vinyl is if you get sub-floor damage under the sinks or toilets (which is likely with long-term rentals) it's a heck of a lot easier to replace sections of sub-floor by pulling up a few vinyl tiles versus busting up ceramic and grout.

Thanks, I plan on using ceramic tile which is currently lasting 20 years or more. 

If you go in the attic and see the wires going through the joists with a ceramic boots and/or knobs on top you have knob and tube.

For $9,000 I can paint the inside and outside of the house, lay ceramic tile in kitchen and bath, carpet in bedrooms, install new counter tops, light fixtures and faucets.  

We actually have one that was tuned up (granite counter top, ceramic tile, brick exterior, 1.5 bath) that just leased for $1,300.

However; for the most part you can use large ceramic tiles, travertine, engineered wood, vinyl planks, etc.

We had put a great deal of time, money and energy into installing hardwood floors, ceramic tile, built-in cabinets by the fireplace and a kitchen remodel that took 3 months to complete.

IF you just purchased the home you may not know if a heavy 24 hour pouring rain storm may cause water in basement.Just be careful, go with ceramic tile if you plan to put flooring down.But yeah finihsed basements doen right is a great way to double your living space and or get additional rental income.Chris

Order a third-party property inspection Make 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.

We have eliminated some of the things like ceiling fans, went to ceramic tile, Paint baseboards same as walls, If it's Broke either eliminate it or fix it.