If you desire to chose between the two do not go with low end of laminate to compare with tile.  

They will be moving more high income jobs into the area, and create (at least in the short-term) changes to the migration pattern for that area as it would be more desirable. 

I am mentoring a guy right now and he had 0 money, 0 knowledge but loads of time and desire.

You, as a REI, see a very desirable property.  

To clarify, the mortgage terms are 30 yr and roughly the same interest rate (+/-.25%).You last sentence is impactful on my desired outcome, which is buying and holding the PR, then turning the property into a rental.

Now you have lost your bargaining position and possibly a new owner looking for pay back when you bring up your desires.

I don't know which property it is, but a 60' wide property in Bennett Valley wouldn't be all that desirable.

I recently had a burning desire to own multiple rental units and I ran across biggerpockets during info searches.

They are consumer choices that reflect a desire to possess more than you can currently afford (admittedly this is more true about the car than the house...but still true about the house).

But you must stick to your MAO (or below).Maximum Allowable Offer (MAO) =  ARV - Rehab costs - holding costs  - financing costs - resale costs - closing costs on purchase - closing costs on resale- desired profit.It's a long calculation, but it is critical that you follow the formula.Holding costs include insurance, utilities, taxesResale costs.