Purchased a small functional single family home for $20k, rehabbed it for $10k plus some of my own labor.

In the FB groups, don't make a post instead use the search function as all beginner and standard questions have been asked and answered hundred's of times.

However the servicing function (who collects your payments, sends your statements, sends your 1099, etc.) may not change. 

Without investors putting money into the marketplace, our economy would not function, grow, or innovate.

The accounting function sucks. 

Commercial lines of credit aren't used as much, but can serve the same function. 

Of course, all that might mean functionally is that your appraisal value would be a lot lower than you might want, OR - that they put something on the file indicating that an item or two needs to be corrected before it would be appropriate to use the property for collateral.The other caveat is that yes many counties / jurisdictions maintain a system for documenting what's been permitted or not, as well as the obvious assessor's pages that usually show number of bedrooms, square footage, among other things...

If you need more details on this strategy, use the search function on the top right, and there're a lot of blogs/articles written about this. 

Hoping I also performed the tag function properly this time.

Richelle, if the flooring is functional but just ugly, I'd consider leaving it and earmarking the funds to upgrade it after a tenant or two, or as a retention bonus for a good tenant.