They're popular in Europe so the older homes' character isn't destroyed by a bunch of duct work.

Watch an eviction take a year to complete, all the while receiving zero rent and having the people absolutely destroy your property.

What if the house is destroyed on the inside once acquired?

PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES: Buyer may conduct at Buyer’s expense (unless payment for such expense is otherwise required by governmental regulation) any or all of the following inspections of the Real Estate by one or more licensed or certified inspection services: home, radon, environmental, lead-based paint, lead-based paint hazards or wood-destroying insect infestation, or any other inspections desired by Buyer in the exercise of reasonable due diligence.

I just looked at a house where the upstairs needed a lip stick flip (paint, carpet, new appliances, kitchen and baths probably could saved as I was planning on renting it), but the basement was totally destroyed.  

The ADA requires a reasonable accommodation, not allowing someone to destroy a place.

I've seen some 'higher class' tenants absolutely destroy places as well.

This car was destroyed in an accident in September.

Billings is probably more stable as it is the largest community in Montana, but the rest of Eastern Montana (Miles City etc.) is small enough that even a small change in population (say 50 oil workers move away because they lose work), can destroy a rental market.  

So are my only options either having carpet or refinishing the beautiful floors and hoping they don't get destroyed?