I work with a ton of new investors as a realtor the #1 way to get started is just find a 2-4 unit in decent shape and buy it low down with conventional financing 5-10% then you can live in it for a year and do another next year.

When you become the builder , then the numbers work What he ^^^^ said.

I searched a bit and could not find the answer to this. 

I'm going to have a floor guy take a look to be sure, but let's assume I can't re-sand and I'll either have to put new flooring over the old original floors or just tell the next prospective tenant, that's how the floors will be, which lowers the appeal of a very rentable apartment.   

Hi Bianca, welcome to the BP community!

@Meet Shukla welcome to the forums! 

Don't just read the lease!

At the same time though, if you are the one who walked into the store and tried on the clothes and asked the sales clerk how it looks, then your asking to be influenced. if you spend time on a real estate investing website where people are in the business of investing in real estate and you ask if you should invest, you will likely get a lot of responses that say you should invest in real estate and let me help you for a fee.

While down to the studs can look more intimidating, the advantage there is a clean slate. 

Hey @Thelma Bal this podcast episode on the BiggerPockets Rookie show was just released on cost segregation and depreciation: https://www.biggerpockets.com/blog/rookie-521