offer the same opportunity of relatively low entry costs vs decent rent rates.Yes, it's tougher to use debt for acquisitions due to higher interest rates (which aren't going down anytime soon - sorry if you don't know that!).

It was a very low stress way to get my feet wet.

My dad is retired and his credit score isn't the greatest while my credit score really good and debt to income is pretty low right now.Mortgage Owed: 118,000Money to Seller:  75,000Est.

I would look on your loan estimate to see if you are getting any lender credits (Section J) to help offset their 2% fee. 

Its not different than repairs on any other floor, there is just typically more damage from low quality flooring materials as other have listed. 

As part of this process, you should look at a rental applicant’s credit report, criminal history and eviction history, verify income and call references and past landlords.

LOL.There’s a WORSE WAY and a BEST WAY to try to obtain items 1-4 aboveBEST WAY: College or Professional Association courses in real estate (real estate license course as a base) and work experience for a REIT or other professional real estate organization and capital saved or equity raised from private parties with a MODERATE amount of debt leverage and or utilizing creative financing with low interest rate debt (may be highly leverage)WORSE WAY; Any guru courses or mentorship’s combine with high interest debt. 

Showing a property in bad condition is only going to attract low-quality renters.

This can provide the applicants criminal/credit history.   

Low 7's on a DSCR is very competitive right now.