@Jarred - You could ask the property owner who is about to lose their property at a tax sale and make an offer. 

I really do not want to allow cats as they seem to spray and many people have allergies to them.

Cabinets were sprayed in a plastic chamber, quarantined and sealed on-site.

I had a cat that sprayed and it's not easy to get rid of the smell.

@Dan BarmanIf you have Dog urine - or worse, cat spray/urine - soaked down into the hardwood floor, sanding is not going to get rid of it.  

We plan on tearing out all of the paneling and potentially the sub-floor to lay down new, and we had a Sherwin Williams rep suggest some kind of urine-smell killing agent to spray the ENTIRE inside of the house with, but how do you typically handle a cat pee house, investors?

To find off-market deals in even the hottest market, you have to do less spray and pray (same message to everyone) and more data dives to see who your target sellers are.

Like every plant it is easy to kill with chemicals and it can not grow without water. 12k seems very expensive for spray & paint; except if you had to rip our drywall and wet insulation etc..Also, your inspector should have questioned the absence of a floor drain - at least here in Milwaukee every house has one and if you can't find it, you know it's been floored over.

I have gotten the urine smell out of my carpet both from a dog and cat with baking soda you take a bowl and fill it about halfway with baking soda , then add water to make it a paste like texture , rub it on the stain and let it sit for about 4-6 hours and afterward vacuum it up , then you can take some febreeze with pet oder and spray the whole carpet with it, that is what I did try it and let me know how it go's, then if you want to clean the rest of the carpet buy you a carpet cleaner from walmart that you can use over and over again pretty cheap.

So when renting get into the habit of spraying the home monthly for bugs or inspecting monthly to make sure the home is being taken care of 100%.2.