Paint vs. siding replacement

[Tristen Jenkins]

Hello BP community,

I am closing on my first deal in a couple weeks. It’s a triplex in South Jersey. For those familiar with the area it’s in Egg Harbor City. The appraisal requested the existing wood siding be painted and repaired in certain places were the boards are messed up. The house was built in 1902 and due to the age it doesn’t have the current sheathing/insulation that newer homes would have. I’m debating on what to do in terms of just getting it painted to satisfy the banks requirements or get the entire siding replaced with vinyl siding. Any thoughts or opinions would be greatly appreciated!