People tend to fall in love with nice hardwoods as well if you can find a place where there's hardwoods underneath the carpet waiting to be refinished that's a nice bonus.

But when I say full gut and rehab I'm talking: taring everything down to the studs, updating plumbing and electrical throughout, probably upgrading the panel, adding duct work for heating and cooling, new mechanicals (boiler, A/C, etc) , hardwood floors, new kitchen, new dry wall and insulation, paint, finish work, etc.

Over 225 and engineered hardwoods are the norm

Home built in 1964 has original hardwood floors  throughout the home except the kitchen and hallway.

$$$Refinishing hardwood floors myself, it was a fun experience, but I didn't save a dime. 

And to top it all off he scratched the crap out of my hardwoods with his suitcase.

It has mustard yellow paint on the inside, original hardwood, and a very out of date kitchen. 

Hello Bigger Pockets,I am trying to get started on my first multi unit to house hack or even just do a simple FHA loan in NW chicago (portage park/ Avondale, maybe hardwood heights).But what I’ve noticed is that the market is really hot.Now I am not sure if I have been spoiled by the numbers in Indiana is or are the prices really high?

In all we spent about 5k on renovations including new bathroom items, pulling up carpet and refinishing the original hardwoods, freshening the kitchen, installing a "shiplap" wall feature. 

Looking at the noise issue on its own, I would say that you need to consider requesting your tenants buy carpets taking up at least 60% of each room if hardwood type flooring is in place.