I just ripped out the carpet to my home to find this beautiful hardwood. For the most part it looks to be in good shape. Its the original 1920's hardwood and looks to have been refinished once. I am wondering if anyone can tell me what the finish is on it and how to properly strip it off while leaving the stain. So without sanding. To me it looks like oil or maybe a wax but I don't know. I can feel the grain of the wood. Photos below. Any help would be great.

You could try doing a screen and recoat which basically takes off the top layer and then adds a coat of poly. It generally takes 1 day to do/dry. But, if you decide to try this, I would call in a professional to do the work. If you try yourself, more than likely you will go too deep and then need to do a full sand and refinish.

Debbie Gartner, aka The Flooring Girl
http://TheFlooringGirl.com
Westchester County NY

that floor needs a full sand. But if you want you could clean it and seal it with a universal sealer and then put a top coat down.

I'd completely re-sand that floor without thinking twice, but thats just me, or I'd live with it until I couldn't take it anymore them do it.