A good engineered wood can easily stand up to the demands of a kitchen and half bath and I would never break up the transition of an entryway into another area with a change of flooring.

Looking for the right combo of location, interest rate and return on investment to slowly build a portfolio to create passive income. - Rod Gipson

I work with a commercial lender that loans based on the property, not your income (no tax returns or W2's). 

We are looking for someone who would like to manage the process and in return get a cut of the profit.  

(Not by using Google maps because they can easily be outdated pictures) There should be some.

Purchase based on sales comparables, at a discount, and have a good idea of what your operating expenses will be as well as what market rents are to get an idea of your return.

If you ever find yourself in West Texas, the returns in Lubbock are great.

Then you will be managing the property until the time when they see fit to "return" it to you in a land trust. 

Just like any industry, you find better cap rates/returns in different markets.

It seems if you can find the right deals, flipping may be able to get you larger returns in the shorter term.The "best" investment is the one that fulfills the needs of you and your soon-to-be expanding family!