... Once you get all the carpet off, you may find a few more knots than you'd like. That's OK as long as the 'decor' suits your taste.
Get a good Primer/Sealer (NOT just a Primer) from a Paint Retailer. As an aside, a nice touch is to do a stenciled border once you're finished. I've seen it done and it looks real nice!
My best to ya and hope this helps.
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