We put down foam bath mats.

I am in my 20's, have a strong work work ethic, passion for real estate, and desire to learn hands on.

If you use an LVL to carry the ceiling load then you won't have to upgrade the rafters for structural reasons but you will have to pad them down to get the insulation in unless you spray foam it which is very expensive.

I agree with @Kevin S. ....have a prewritten response (I like yours, I will change mine up a bit).

What sort of partnership(s) have you had or do you currently have?

Take a hard look at your expenses and see where you can shave a few dollars off.

Without knowing much about your property or location I'd say a decent thick LVP with foam backing is a reasonable alternative to tile but the substrate needs to be very flat for either of those so preparation is key to a good result.

What area(s) have you invested in and what kind of investments (Multi/SF)?

Not every LO will get exercised and not every re-LO will get covered by the option fee.I don't know if you have done this already, but that's the start of how to match up your operations with the realities @Jay Hinrichs and @Serge S. have talked about and get a solid idea of what level of reserves you need.

The house has issues.....but so do the tenants.Wood shavings?