He had to tear out the entire chimney chase on the roof, where he discovered a rotted area that was letting the bats in. 

The previous owner paid to tear out the old walls, dealt with the mess and had a dumpster remove it so again, if you are doing more than paint and flooring, a property that has been gutted makes your job easier (and saves you money). 

I grew up in New England so the wear and tear of the NM desert is foreign to me.4.

I'm planning a detached garage ADU conversion (tear down) and am currently upgrading my main electrical service/panel on the primary residence.

You stayed for a month.Besides no rules..and huge savings..and accessibility..seasonal rentals reduce property wear and tear.

@Austin PrewettFor a rookie investor, I would not recommend a property that needs a heavy rehab or a property that is a tear down.

The "grip strips" tear when pulling up existing flooring which made the repair a challenge to say the least.

I'm not sure what else to do, but we have a month before the new tenant moves in and we'd like to get something done that is cost effective (not tearing out the ceiling again :).

I find the larger houses are more difficult to find good market rate comparable rents and they will likely attract applicants that bring more wear and tear. 

I also like leather for the wear and tear being able to wipe them down.