Floor and Decor in our area has started carrying these.

That will be when you put in Granite countertops and hardwood flooring.Just an FYI, if you only do what is required to bring to code, you should be able to recoup all your money plus the 25 or 50% interest.

But if you don't plan to have someone checking on the property regularly then you should have a "trusted" contractor meet the locksmith to screw 1st floor windows shut and lock them, and secure back door with wood stud(s).

Just ran across a way to update your flooring and stay way down on budget called paper flooring.

I take photos of the entire place - floors, ceilings, woodwork, etc., put all the pics on a CD & give a copy to the tenant at move-in.

Are floors reasonably level?

In the pictures in the advert you will see almost the whole house is floored with Allure vinyl plank flooring.  

I would say it depends on just how "move-in ready" you are expecting.If someone is sitting on a property that is in relatively good repair overall, with the exception of some paint, flooring, and minor kitchen updates (countertop replacement/cabinet refinishing) for example, as a result of inheritance or a property that may be more of an afterthought for whatever reason, then perhaps through direct mail you may uncover a handful of decent leads/deals whose owners haven't necessarily yet put the wheels in motion to get rid of a property that they may consider selling once they are given a slight nudge.

Value I would say is around 65ish. 3br, 1 bath, all wood floors, nice little house.

I am afraid my deal is too thin,  my budget is $50k for kitchen , 2 bathrooms, deck, refinish floor, whole house painting, simple landscaping, new  furnace and water heater, and some electrical and plumbing work.