I would stick to the basics. Paint it gray.

I assume the floor will get prepped first.

Oh alright. Then just make the floor clean. Scrape, vacuum and prime with a bonding primer. 2 top coats with porch and floor. Keep in mind it is not bullet proof and will need maintenance coat every 5 years likely. It all depends on the prep work that was done and products used. Foot traffic is light so you don't really need a floor epoxy as that is overkill in my opinion.

If the tiles were from the 1940's, it means the house is from that time as well (or earlier). Did you remove the tile? Was it tested for asbestos? The black mastic could be asbestos cut-back adhesive that also requires testing. Oh dear. Before you go any further, you will need to ensure you are mitigating against asbestos...if it is there.

The age of the house means the concrete in the basement is NOT sealed against moisture. That tells me this basement is going to have moisture issues. Water in the ground it is touching is evaporating through the slab every second. There could be GALLONS that move through the cement on a daily basis. That means you will need to mitigate against moisture.

If you do NOT mitigate against moisture, anything you put over top is going to FAIL. Yep. A permanent floor (like paint) will fail very quickly because the moisture moving through it is going to cause a bond failure - sooner rather than later.

Carpet is one of the easiest fixes "for now". Carpet that is laid with a breathable pad will allow all that moisture to move through it without damaging the carpet itself. It doesn't sound "nice" but it means you can have a floor that WORKS without having to worry about complete failure inside of a year or two.

I highly recommend you do not paint this floor until you have discovered all the downsides. You have plenty of work ahead of you before you can make such a decision.

moisture meter for the floor will tell you what you need to know regarding moisture. Not necessarily is there a moisture problem. Agreed, anything pre 1978 i assume asbestos could be present.

OK...so someone else removed the tile (looks like an amateur job). Now the new homeowner (that's you) has to assess the surface left to them (the black stuff). Asbestos based adhesives were PRODUCED until 1982. They were then "sold off" until the mid 1980's. Palace Painting is referring to the 1978 "lead based paint" date (that's when lead based paints were heavily controlled...). Asbestos was not outlawed until 1982. The remaining stock piles were allowed to be sold off until the mid-1980s (in N. America....we still sell it to India...but never mind).

Please do NOT do anything to that black stuff until you send off a sample to a lab that does the testing. The cost of the test is (roughly) $100 and takes about a week.

If your home is from the 1920's then the lead based paints and asbestos filled "everything" (hundreds of housing materials incorporated asbestos because of it's fire resistant properties....and thermal insulation) will have to be assessed on a project-by-project basis. It is possible that every surface in the home has some sort of contamination.

Before disturbing walls, paint, insulation, flooring, etc, please ensure you have each item tested for lead/asbestos. Be sure. Be safe.

Correct. I got my dates misconstrued on that. Absolutely right McCarthy.

Did they test for ASBESTOS?