This, IMHO, borders on a scam. 

Multiple wood species on the same floor can look great; just google "hardwood floor border".

I believe the neighborhood is sort of a C+ neighborhood bordering some B/B+ neighborhoods.I want to renovate the baths for two reasons. 

Second you could buy for appreciation if you ran the cal and you lose idk 200 a month but next year you break even and the year after you make 200 in a highly appreciating market it could be worth it but it is a gamble.

It's a trendy section and the area has plenty of potential, but Asbury Park as a whole still has its problems and could be a gamble. 

You can tape a 12" strip of paper around the border of the room to the floor for spraying near the bottom of the wall.

Brad Noe , I don't know the answer to your question, but would advise that instead of asking folks that while well intentioned, for the most part don't know the laws, particularly in Kentucky, you should instead go to a local real estate attorney's office (I use Borders & Borders) and ask.They have always been very helpful in answering my questions and won't charge you for basic advice like that.On a separate note, pm me if you are looking for another buyer to add to your list!

Yes, I completely agree that relying on appreciation alone is usually not a good investment but more of a gamble. 

Bars, brothels and gambling sprung up around the railroad and we still see a more "colorful" environment in Ogden.

While it's certainly a risky move to gamble with your retirement, it is an option.