In California you can do 7 without foul.

Prime first with an oil based primer to seal the edges (use the low odor oil based unless you wish to have less brain cells when you finish; the regular stuff has a strong odor that will leave you loopy without adequate ventilation). 

Other then a second mortgage as security  what can you use to be able to make 20-25%  return without running foul of usury laws .In Nevada there are no usury laws per say ,but California seems to cap many loans at 10% .I know you can do a JV deal without problems but how would you secure your loan to the property in question without any illegal tactics ? 

if you are planning to do the work yourself and can stand plaster dust destroying your electronics and furniture,horrendous paint odors you might be ok. the contractors doing the rehab will definitely not like it. rent a trailer with a bath and kitchenette and live in the driveway until completion. doing this will be better for everyone's sanity!

Pull up the flooring, clean it the best you can with odor neutralizers then paint the floor with latex paint which will trap the odor generating urine.  

The place needs a full renovation and on top of that is has very strong animal odor.

@Shane WardThe easiest way to foul up your relationship with your son is to do business together

I bought it for $37k, spent about $5k bringing it up to standards (mostly a floor sand and seal which completely eliminated the odor).

I've had people use foul language with me and still been able to get the job completed). did not inform the right people to handle the sub contractor - You mean the GC who I reference speaking with multiple times? 

I also use active whole structure high tech activtek air scrubber that kills all odors, particulate etc This unit can be installed in plenum and or each unit.