To use a simplified example; if county wide, property values go up 100% (forget about multiple 100%), county residents will not tolerate the budgets of the county / city / school doubling.

In our rentals I was fortunate enough to have the original hardwood under the carpet to refinish, in the areas where they were not salvageable and in the kitchens we used vinyl plank and love them so far…super easy to install (score and snap or cut with tin snips) and durable/water tolerant and my opinion is thy look as good as cheap laminate.

In the end it all comes down to how much work you want to put in on a day-to-day basis, what your priorities are re: highest ROI% vs headache/risk tolerance, and how you feel about taking on debt, albeit debt that is paid off by tenants.Sorry for the lengthy post, I kept seeing more things I wanted to touch on with each post I read!

Based on Jay's reply about newbies being scared away yet him never seeing IRS lien's being redeemed, it sounds like it depends on your risk tolerance and available funds.

But that is just based on your risk tolerance.

I was able to learn my risk vs return tolerance and what I was comfortable in investing in.

That might be a risk you can tolerate. 

You must operate with a zero tolerance policy when it comes to rent collection.

Some ways to combat that variance are by 1) doing a detailed screening on every potential occupant of the unit, 2) having a comprehensive lease that spells out those things that you consider important, 3) taking time to thoroughly walk the tenant through your unit showing and explaining to them how to operate everything, 4) letting them know in no uncertain terms what you will and will not tolerate, and 5) tell them to call you first if they have any questions about the unit.

If you can't feel comfortable taking on substantial debt right now, due to new investor jitters, general risk tolerance, or current finances, that will narrow down your options.