Looking at a flip property that has asbestos shingle siding

[Rod Blunk]

All,

I am looking at a nice potential flip property but it is disclosed the outside is asbestos.  I believe it is the shingle siding.  For estimating purposes:

1. Do I need to replace them (most likely for resale right)?

2. What type of mediation do I need and estimated cost?

3. Should I just walk away?

Right now my numbers with Rehab are giving me a 30% ROI (buy at $120K, Rehab $55K, ARV $258K) so i could replace the siding and still have a pretty good ROI but I don't know what that is going to be regarding pain and cost...

Thanks 

Rod

[James Stevens]

OK, from my experience (running my father-in-law's siding company) as far as the asbestos siding is not disturbed (like trying to remove it) there are no abatement requirements.  It doesn't need to be disclosed (at least in TX) that it is there.  As far as covering it up, what we were told (by multiple authorities) to do was simply wrap the house with insulation, such as 3/4" foam, and then simply nail the vinyl siding over it.  The foam insulation insures that any possible dust from the nail penetrations is contained and therefore does not endanger the applicators or anyone else.  I have done many houses over the years that had asbestos siding.  Hope this was helpful.