Without knowing that, on the surface I would not have handled it the way you did.

However, I have found some properties that from the surface, look to return a pretty decent cash flow.Anyways... what are some of the starting situations you experienced, and what were your immediate goals?

Is this the one you used:Select Surfaces Laminate Flooring - Canyon Oak

I would run this in the BP calculator for buy & hold but on the surface, it does not look like a fantastic deal. $5k rehab would be incredibly low, as in move-in ready and I saw you mentioned foundation work.

My primary method to analyze deals just on the surface is to use the 1% Rule (Rent/Price >= 0.1). 

On the surface, his claim of quickly doubling your money sounded great.

I haven't gotten an estimate on the hard surfaces yet for the handicap spots, and to be honest, I don't know how much that'll cost me.I've already talked with my banker and she said that I'm good so long as it does not exceed $500k (which it won't).

Better yet, if the existing surface is flat, and there is no compelling reason to ever want the wood floors, install vinyl commercial tile.

. * I also look at the 2% rule to kind of verify and amazingly anything that hits 2% looks on the surface like a killer deal3.  

The laminate is very durable when it comes to surface scratches and other damages but not so much with water.