Sometimes it's ok to just leave asbestos alone.Here's one source I found:Is the asbestos in your home in materials that are deteriorating or likely to be disturbed, perhaps through future remodeling?

Dishes and food in the sink, a spill (perhaps soda) that's deteriorated a good portion of the kitchen floor. 

Anytime you start doing major repairs (replacing a whole roof) you run the risk of uncovering other damage or deterioration that must be addressed per code. 

In order to find a deal you have to find something significantly deteriorated, which as Mindy suggests is not a good idea for a med student.   

Personally I wouldn't buy a home with wood below grade, it deteriorates.

You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.Creating an LLC in California would cost you a minimum tax of $800 every year.

The job is replacing a 6 ft. high retaining wall behind a house that has deteriorated over the years and is leaning pretty badly, and has caused water intrusion in the basement.  

Little Flower is interesting, but the entire area around Sherman Dr is deteriorating and starting to cause issues in and around the Little Flower area.

In general if a REI is buying cashflow positive real estate and their financial situation hasn't deteriorated since they purchased their primary residence, it's usually just the down payments that limit their ability to get additional mortgages. 

Another consideration is the deterioration of the commercial office space market, as the dust settles and investors reassess portfolios, it is possible that the interest and demand for residential income producing properties further increases.According to the association of Realtors a 4-7 month supply viewed as a healthy balance between supply and demand.