1997 Corolla 1.8L Brake pedal goes to the floor...

I've been battling this problem for a while now. The brake pedal goes all the way to the floor or damn near before it starts slowing down. The e-brake activates in just 2 or 3 clicks.

So far the mechanic has:

• Replaced the master cylinder (twice)
• Installed Driver & Passenger new front calipers because the bleeder valves were stuck
• Bled the brake system either 3 or 4 times
• Linings are 70% front, 60% rear
• Inspected the rotors

However, I just measured the rotors thickness, and it's around .750. Minimum thickness is .787 and new is .866. Now my question is would having rotors below minimum thickness cause the brake pedal to go all the way to the floor? Please don't reply with just a 'yes'. Link something because I've been to two mechanics and no one can figure it out. This car runs like a dream even with 194k miles on it. It's showing it's age but I'm about to just dump the car because I'm tired of paying mechanics to diagnose it only to have them guess at something and then it never fixes it. The brake fluid is below the max, but above the minimum. No brake fluid leaks.

FYI for all the viewers who may be wondering, the rotors were too far below minimum spec. Replaced those and pads and it's fine. Also the proper way to measure thickness is by a pair of micrometers, not calipers. I hate having to pay mechanic rates and diagnose my own car, but it is what it is. Still beats car payments, let's hope for another 50k!