Only to receive and email from my lender stating the underwriter may not be able to finance the deal due to the fact there is only one furnace, one A/C unit and one set of duct work. 

I have them in one rental and know they are more common in some new builds in some areas as you don't need the duct work. 

The duct work was already in place so All I had to do was install a furnace and run a new gas line and have the project inspected.

If you had to switch to a range hood was there sufficient space for duct work?

You will need to make sure there is duct work running to the room for heating and cooling, proper insulation, a window or two, etc.3.

Thanks city of Milwaukee, another 10k price drop to accommodate new hvac, going from the boiler system to forced air.All in all the work done to the property included:27 new windows2 new furnaces, ductwork and water heatersNew PEX plumbing along with accompanying fixturesDrywall work and insulation to remedy water damageNew roof (6 layer tear off)Refinished hardwood floorsNew cabinets, countertops, etcGutted bathroomsPaint abound Etc, etc, etcBeing the largest project I have undertaken, I ate two months of holding costs in getting the property ready for rent as I grossly underestimated the amount of time it would take to get the property ready.  

Or should I cut all of it out and ha e furnace installed with duct work?  

There is forced hot air in the house now, so the duct work is there.

Best thing that I have done is to charge a monthly pet fee and then put in lots on language in the lease stating that they have to have the ductwork and any carpets professionally cleaned at the end of the lease showing a receipt from a 3rd party explaining the next tenant may be allergic to pets.

The remediation contractor told me that I can just clean it up good w/ bleach water (wearing appropriate PPE) and have the duct work cleaned up and i'd be good to go.