Do not Ever be intimidated or pressured by an a$$ hole contractor. 

After that we will have significant pressure to hold rents steady. 

The pressure from debt is the problem.

Mount a keybox on your rental and place a spare key there.

Work On Your FinancesAfter getting the location, you have to work on your finance so that you don’t end up putting too much pressure on the monthly expenses.

The other issue is ROI - you'll need quite a bit of plumbing; if you have a lot of galvanzied pipes in poor condition and low pressure you may want to consider pex anyway, at that point you could seperate the systems out.

The point is don't pressure someone to give you a number, make it there idea.

Here are the numbers:Location: San Fernando Valley (Los Angeles)2bd/1ba - 850sq ftRemaining balance: 314,000Zillow estimate: 676,400Redfin estimate: 713,749Rent Zestimate (Zillow): 2771 (I feel this is a tad high for such a small house)Cons of the house:Old roof mounted package unit, that eventually will need replacing (made in 1999)Still need to repair 4 sides of fencing repaired/replacedDriveway needs a slurry job1 hour drive from my current house with no trafficLawn needs a redesign (more drought tolerant stuff) - It gets very hot in the valleyPros:Mortgage is only 1760 all inPotential ~900 net/moI already have it...If I did sell it, I would like to buy something closer to where I live, but I also don't want to get dinged with any unnecessary taxes either. 

@Alex NameishiYou can just buy lights with integral batteries and mount them in place of an existing light in your hallway.

Agree with @Paul De LucaAsbestos has to be "friable" (reduced to powder by hand pressure) to be a danger.