A lot of towns have part time inspectors and only inspect maybe 2 days a week and usually you can't get electric, plumbing and Framing in one day - electric and plumbing first, then you schedule framing, then you schedule insulation and then you can close up the walls. if they only inspect a couple of day, that may delay you a week.

It appears as the steam pipes are wrapped in asbestos insulation in the basement, and I'm wondering if wrapping the insulation is sufficient in terms of lawsuit risk as long as I restrict access to these areas to tenants.Knob & Tube Wiring: I also plan on providing electrical resiliency and fire protection by replacing the existing Knob & Tube wiring.

Just make sure to insulate yourself with escape contingencies and never give them anything that they can disappear with.Good luck!

@Eric Gutierrez insulation is your best bet to dampen noise.

Otherwise your description could be more like, 'shingles blew off, there's water dripping in, drywall ceilings have to be replaced, delaminating plywood sheathing needs to be replaced, wet insulation has to be removed and replaced.'

Rustic and durable flooring throughout the whole house, insulated 3 seasons porch which can be used as a bonus room, office or sitting area.

Insulation in the walls8. 

OK, I have some major updates regarding my investment with MI.I had an inspector go out and take a look at it during construction and he found MAJOR problems ranging from possible asbestos insulation being airborne, lead-based paint cracking, cracks in the foundation and crawl space, old knob and tube wiring, moisture and mold issues, roof shingles replacement, and loads of other issues.Rather than talking about them, I made a playlist of the inspection here: https://www.youtube.com/watch?

Instead of complaining about the cold, your tenant will complain about the high electricity bill or the building needs better insulation.  

Additionally, we installed a new sewer lateral, water heaters, windows, light fixtures and outlets, roof (including facia, soffit, and gutters), blow in attic insulation, patio, sidewalks, parking pad and privacy fence.