I believe they install strapping over the asbestos and nail into the strapping.  

Strap on your learning camp, buckle in and enjoy the ride here at BP.

-Mat

However, now the individual is strapped for cash, and couldn't buy another $120k property for a while.In order to get some of that cash back, I know one option is to refinance...assuming the property was bought well below market value.

(If I hadn't been strapped for cash I would have tried to buy one right afterwards - as house prices were impacted for a short period of time on those streets).

If you don't then when one that does work comes along you will already be strapped with a bad property and debt and the opportunity will go to someone else.

One more question, why have you not considered selling one of your units and gain 80k (say around 20% sweat equity from your new build) so you could afford your next 4 builds at same time instead of cash strap on every project?

My question is I'm cash strapped right now and need financing, how can i approach a bank to get 100% financing?

You will read some hard-core stuff here about not letting a tenant hang a picture on the wall without your approval or put out a different door mat.

The answer could be to hold on to it if you can...are you strapped or cash?