If you want carpet, go with a super cheap frieze and get a good quality pad with a moisture barrier (8lb pad).

My comment had the caveat of being a nice neighborhood that would attract AirBNB quality clientele.

Otherwise, a rehabber is taking a significant risk by doing a rental-quality rehab -- if he can't sell to a landlord, he'll typically need to re-renovate to a higher level to get it sold retail.

More importantly you don't know the quality of the education.

There are real people here who need quality places to live.

Sounds like you are rediscovering the truth in that old axiom: Fast, Quality, Cheap ... pick two.

@Andrew Urbanski I'm with @Michael Seeker as generally cap-rates and inversely related to the quality of the area.  

The things that are mentioned aren't "signs" at all, they're personal qualities or personal situations.

On larger high quality parks conduit/institutional is often the way to go.

But a little food for thought, people similar to you would make the best tenants, so while the price tag is a bit higher you will also be attracting more quality tenants.