First, you can't charge tenants for "ordinary wear-and-tear" and it sounds like that's what your manager is telling you.

If you see significant wear and tear after years of having tenants in the property you can sand & refinish the floors to look new. 

I haven't participated in the program for  a few years, but if I had a choice between and A-1 market rate tenant and the average Sec 8 tenant I would probably stick with the market rate tenant since they entail less wear and tear on the property and less overall drama. 

Also, plan for more wear and tear in your numbers as well.4) If you can self manage you will learn so much.

I decided to tear out the old tub, install new valves, new toilet, new vanity and sink.

My lease states that tenant is not responsible for normal wear and tear, but says I can bill for damages if not covered by tenant.

Only one of many have I been off but that was due to unforeseen issues discovered after tearing into walls in one home. 

@Leroy Wallace JrDepending on how this plays out, if you approve him do it on the contingency that rent increase by $____ for additional utilities / wear and tear blah blah.

However, I have heard great things from local landlords about the plank vinyl... you have all the benefits of the sheet vinyl, but it looks a little more classy.. and I think the surface prep is less extensive.... much easier to tear out if you need to replace it.  

My regular business partner is super hesitant because we have never done any rentals, and as I said, it's a tear-down.