The property is under your control but you're not on title yet.  

I would not go 30 years to do a wrap. 2nd is that YOU are in control of the mortgage without having your name on it.Show the seller the benefits of getting some cash and he goes away.

And then there's the annual rent increase, which can be substantial if you're not living in a rent controlled unit (like when my rent went up $200 after they did some major upgrades throughout the [224 unit] property including a new redwood deck for my unit). 

Hi @Rae Edwards,If your employer instructs you to leave the area/country for a while or you lose your job, that isn't something you could reasonably control or anticipate, so you're fine. :)The people that get jammed up, for the most part, are the ones that flagrantly never "intended" to live there, and never moved in at all.

I wanted some repairs and updates done before it was rented (update electrical panel, change out a couple of outlets, some cosmetic updates).

Be in control of what is happening.  

House #2 is a panel sided house that is renovated, in a downtown market of WV (lower income area), with only 2 street spaces, and a full yard in the back.

I have this ceiling paneling and was wondering if it looks like I should get it tested for asbestos?  

Learn the skills to control real estate first without the need of a large amount of money.

To my knowledge, SFRs don't have rent control in New York, which is a plus.