Paint or replace siding

[Byron Scott]

I bought this triplex in July 2019 to house hack. I have done rehab to the inside and I'm living in one of the units. I also got the trees off the house. This property is across the street from a college and near restaurants. It is currently not a student rental but definitely has an option of being one. My question is should I paint the outside. It has an old siding or should I replace the old siding? It has asbestos cement siding. Please let me know your thoughts. Thanks!