So here's what I'd do....I would refinish the wood, something I have done with some success myself just for cost of rental sander, sand paper (all three grit levels), and stain and poly....get a bid on hiring it out, too..

I do understand that there is a level of difficulty, however, I am ultimately trying to become financially independent and there is nothing more difficult than achieving that.

But it depends on your experience and comfort level if you want to leverage yourself more or less.

Hard money lending is risky enough without taking it to that level.

excuse my ignorance Thelma, but what is SFR And also I would love to get in developing properties with mixed income levels.

I am looking to get into real estate doing wholesaling and fix and flips once my capital reach the level to do so and then get buy and hold properties.

Could it bring a added level of security that could raise the rent 10-20 bucks a month?

To me, this was "The One Thing" I could do by the end of this year to take my real estate business to the next level.  

Being a low level marketing guy, I knew both sides of the equation for the specific company I was working at and the market we competed in. 

The reason is often cited from judges ruling on the enforcement of those instruments has to do with recognizing that the buyer/borrower is actually earning equity and is granted a greater level of interest in the real property than that of a typical renter.