@Jonathan HarmsFirst ... a 1970s house is not old :-;   We are presently rehabbing a unit in one of our "newer", old buildings (Circa WWI) ... lath-n-plaster for the most part with cloth wiring and tar paper laid under the hardwood floors.Different building materials, naturally have different smells - both in their original form and after many years (or decades) of ageing:  the glue used to stick horsehair to lath or 1930s wallpaper to plaster will smell different than the glue used to hand wallpaper today.  

So you will have the same issues as a 4 plex, but now you will deal with even more tenant on tenant issues like a tenant complaining that another doesn't pick up their clothes or clean the dishes or pull their weight or whatever. 

That said, it is also one of the few remediations, which with a bit of planning and instruction could be done by any contractor or as a DIY (unless prohibited in your area): cover the ground with poly; wear appropriate protective clothing and respirator; wet the siding just before you remove it; when done, roll up the debris in the poly and tape it closed; dispose of the waste at the appropriate facilities; and, don't do the removal on a windy day.Alternatively, you can encapsulate the asbestos siding by covering it over with {insulation and} new siding.  

Then show it empty putting your best foot forward.Nobody wants to see dishes in the sink, trash in the cans, clothes on the floor, and so on.An EMPTY property is my opportunity to be proactive, fix absolutely everything I find, preventative maintenance, change all filters, clean out dryer vents, bathroom vents, check for slow drains, clean gutters. 

Tenants will also let family and friends over to wash their clothes. 

.$350K pre tax, $220K take home...Purchase of $2M house, $500K down, $1.5M in mortgate, or $10K per month in PITI....So $120K goes into the house, leaving $100K for eveyrthing else...Now from $100K$40K in child care (because both parents are working)$60K left, or $5K per month...From $5K per month$1000 in utility /cable/iphone$1500 in food include eat out$1500 in cloth, hair, make up, all girly stuff$1000 in 2 cars, assuming you are driving ****** cars..Which leave you with $0 to cover everything from toilet paper to college fund to retirement.....Now, this is a fairly successful double income family, buying a middle class house in sunnyvale, after $500K down...

A real old clothes iron .  

He is a grown man, yet you get him a car, let him use your EZ-Pass, put a roof over his head, pay the utilities, let him take free showers in YOUR house and don't demand rent from him.....please don't tell me you also cook his meals and wash his clothes. 

I also moved away from in-person meetings and only schedule them when absolutely necessary allowing me to fit more meetings in and reduced the time spent doing laundry as my "work clothes" are yoga pants.My travel last year was not as much as I had hoped… I took 8 weeks off and went to Boston twice, Denver twice, San Francisco, Phoenix, Detroit, and took a four-day motorcycle trip around lake Michigan.

A very wet terry cloth rag will remove it.