Get something durable in a color that does not stain easy and a material that can be scotchguarded and you will be good for several years.

Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

First off, I want to acknowledge how tough this situation is—especially as a first investment property.

In this case, your rental property is passive because you lack material participation in the rental activity.

Biggest things you’ll want your cpa to guide you through;Material participation- there’s three tests; 500 hours; 100 hours and more than anyone else’s time, and substantially all the activity.

*Renovation Costs – Includes labor, materials, permits, and unexpected repairs*Holding Costs — Utilities, property taxes, and financing costs during the renovation time.

A ton of house hacking material on there :) 

Very difficult area to be a landlord.Tenant base is lifer tenants. very tough on the housestheft is rampant you leave a home vacant for more than a few days and you HVAC AC unit will take a walkKids break in and trash them.YAZOO Clay screws up the foundations big time.And lastly with those homes they were built so cheap in many instances they are just functionally obsolete and take way more maintenance than other areas of the country.

Pretend your getting the hardest rain you have ever seen and imagine where the water is going.I would also keep an eye out for sewer lines and type of material.

Christin  So far, you are asking a question that is tough to answer with any detail.