This can be done for about the same price as carpet and still have the hard wood look.If you do decide to salvage the original hardwoods, I would suggest getting a pro.

I have never worked for money, being an artist person and all, I always wanted to learn and look "badass" while learning, so I worked for realestate brokers, artists, architects, design and build I just wanted to learn more. " learning" was always my goal and "moving my body"( drawing, painting, working out, running around, wood working, welding, X-sports, basketball  )was something I love doing until I married my husband.

My neck of the woods. 

Hey @Mike Madeja  I personally don't do any remote investing however I have clients from your neck of the woods all the way out to  CA that invest in Milwaukee, so if can differently be done.Prices in the greater Milwaukee area can vary substantially, as does quality.  

Also the Biggerpockets meet up for Hartford County is tomorrow 7/20 at 7pm Wood n Tap in Rockyhill.

I've done extensive research already with HELs and HELOCs, but it's tough to get those on an investment property in my neck of the woods... 

I second what @Mike Wood said.  

This moisture affects your wood moisture content.

Flash forward to Dec 2015, lots of rain again for midwest, renter gone at christmas, 2-3" of rain in basement again, bought pump, cleaned, back on with life, some wood swelling of trim boards.

Louis, MO Purchase price: $50,000 (short sale) - aunt was agent, so fee was waived (she was helping us out) - borrowed money from grandma for the down payment: $13,000 Material costs: $8000I forgot to itemize everything over the course of the four years, but the improvements were: -blown in insulation-tile floor in kitchen-new bathroom flooring x2-new basement carpet-new basement flooring (previous was rotted through) -new carpet in bedroom x2-hard wood flooring refinished-new refrigerator-painted entire interior of the house-installed two custom closets in bedrooms-repaired and repainted the garage-tore out dinning room drop ceiling, installed drywall ceilingAll the work was done by us, save the hardwood floors.Sale Price: $108,000 less: -$6000 in fees (man I need to get a real estate license) -$5000 in concessions Net: $43,000 $108,000-$33,000 left on the note-$13,000 to grandma-$6000 fees-$5000 concessions-$8000 material costsThe problem that I have is how to value this in terms of holding costs.