I learned that carpet in rentals in low lying areas is a very investment. 

Make a STINK.It worked for me when they wouldn't stand behind the Ryobi junk battery chargers we were using.They made it right.Yes, there's still the rule of law here in the US and their run-around will only get them so far.I also had a very negative experience with their supposed FREE INSTALLATION carpet promotion. 

It's triplex, two units are decent can get by with some paint, maybe carpet.

The unit is in complete disrepair (All appliances, carpet, cabinets, kitchen, bedrooms, and bathrooms need rehab.

This is a big spread, I know, but houses in the neighborhood are selling in this range and mine has some of the more desirable features (waterfront, remodeled kitchen/master bath, and tile/laminate floors where most have carpet).

You just never know when you get some crazy rain or something and it does get water.Of the few that are finished, I always tile the floor so I don't have to deal with carpeting and mold.

Tenants can always add their own area rug in bedroom if they want carpet

I am currently considering purchasing a home to flip that is going for $260,000 and would need to have about $50,000 in repair done (that is the higher estimate). after looking at other similar homes that have recently sold I see that they sell between 310000 and 330000 though they mostly consists of all carpet throughout and and equipment that is a few years old. this would be my first property investment and I wanted to check with the BiggerPockets Community to see if it would be worthwhile.

It will make a great investment for someone willing to invest the money - just not a fit for us right now.Takeaways:For our first house hack, we've got two ways to go: 1) purchase turn-key. or 2) purchase a fixer-upper with strong fundamentals (i.e. the carpets are stained, and the place stinks, but the roof is in good shape).

He bought the property in the late 70's and hasnt done much renovating in that period of time outside of normal wear and tear replacments meaning we went in one room and it still had shag carpet and popcorn ceiling, you get the idea.