My line of thinking is that hardwood floors may be cheaper over the long run since it's easier to clean.

Such are not marketable.Contaminated properties are high on the list to stay away from, environmental issues can be very expensive to clean up. 

A few anonymous phone calls could get the yards cleaned up or the occupants cited to court. 

YA just remember it would not be smart to do anything with the property until the IRS lien period has expired.For example if you do a clean out and put thousands to tens of thousands in repairs and the IRS decides to redeem you will not be compensated for any of that.

Its high rate, interest only, two or three year term, but the property would still generate a generous return compared to my smaller properties.

I was able to clean it up for about 10K and I think I bought the property at about half the value.

Your selection of "projects" will be different in each scenario.We are buy and hold investors but even among our selection of rentals, we would have different priorities:student rental units - looking for simple. healthy, efficient, durable, and easy to clean;rooming house - focus is even more heavily on energy/resource efficiency since we carry the costs.executive rentals - higher end finishes and furnishings.

., just finished cleaning it up, so instead of great night with friends, drinking a vat of Irish whiskey after a nice hot shower.    

Right now I switched back to a book that was a little more detailed and I am cleaning out all of my welcome emails that have tons of reading information. 

We can get the mess cleaned up and get the property "working" fast.