To install a wood floor, it does not need to be "level" but it needs to be flat. The industry standard is flat to 3/16" in a 10' radius. So in theory, it can slope that 3/4" to one side, as long as the slope is flat, if that makes sense to you. However, if you need it to be "level/ on bubble", you can do several things, neither are easy. One is to install plywood and roofing shingles in the low spots, gradually feathering it up to the high area. At that point, you can either install your flooring or even better, install some 3/8" or 1/2" plywood over the entire area after you have filled in the low areas, tapering them up to level. Another method is to remove the subfloor and sister on some 2x6's alongside the existing joists. Then when installing the new 2x6's, you taper those up to achieve a level floor. Then either re-install the old subflooring or install new 3/4" plywood subflooring ( preferred ). Neither of these procedures are easy and both require careful measuring and good carpentry skills.
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