Earlier in your post you shared that your friend planned to pay the contractor invoice but at the end of your post you ask whether your friend should pay the invoice in full.....and this is after selling the property and presumably being recapitalized. 

Hello BP fam,I'm planning on upgrading my flooring from carpet to some sort of laminate/vinyl/hybrid flooring - both for personal (allergy) purposes in the short-term, and for re-sale in the long term (6mo+).

.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

@Arthur Savery, This can be a great game plan called a diversification exchange. 

Expenses went down and ratings / reviews went up.I did the switch after staying in an Airbnb that provided both flowers and local bakery goodies.

Are you planning to build, hold, or flip the land?

I joined with the intent to surround myself with others in the field and build my confidence and understanding of the subject matter (:I live a disciplined lifestyle when managing my expenses and living below my means.

Indoor camera ONLY for the vacant period for safety/peace of mind then plan to remove once renting it out but will keep outdoor cameras. 

I am looking for recommendations for best financing options.The owner is considering financing it, but until they agree, I am planning as if they will not do so.The local credit union I use, who is very investor friendly, is unable to lend on properties larger than 4 units right now.