I feel cats can do more lasting damage to carpet, subfloor, just a personal feeling.I think if you can cash flow a bit I would go for it.

Some costs (repair the dish washer, carpet cleaning at unit turnover, etc.) are pretty fixed regardless of rent level.

They determine the mold is due to; (1) tenants causing crazy high humidity basement humidity by running the dryer without ever cleaning out the lint trap and (2) not cleaning the bathroom- All mold is abated with bleach, a second dehumidifier is placed in the basement, carpets are lifted, trim is replaced, and we investigated behind walls.

No toilets or carpets.

The house needs some work but mostly just new carpets/floors.

You don't want to be in the middle of "well it is Tenant A's bedroom with the ruined carpet" or "I gave Tenant B ALL my rent - so I'm not deficient".

I can't see any joists, everything is finished and carpeted.

Then the paint and finish trim, carpet counters and finally appliances. 

On the walkthrough, the home looked great other than some rotting siding, a couple broken windows, stained carpet and old water stains on kitchen ceiling.

Make sure the fee in the lease is enough to repair all the carpets.