Try penetrating epoxy to make repairs before wholesale extraction. You can use MinWax wood hardener or West System epoxy or Git Rot from West Marine supply company. Those of us who fix wooden boats swear by it. You drill holes in the rotted wood, let it dry--then you can inject (syringe) or...
Clotheslines are becoming an important retro Green solution. Some neighbors may need to be educated on the importance of this new revolution to the past.
You can get a wood bleach kit;that will help you control the amount of bleaching you do--so that you don't go too light and have to sand the whole floor.