To me the white residue looks like possible over spray from a knockdown texture applied to the drywall. 

Asbestos is found in heat duct and pipe covering ,  vermiculite insulation, stucco, some older floor tiles (8x8 inches), the black floor adhesive, and some popcorn ceilings. 

The loans must meet the general restrictions on qualified mortgages with regard to loan features and points and fees, and creditors must evaluate consumers’ debt-to-income ratio or residual income.

I know no banks would offer me further loans if I was to buy 4 or more properties but I am looking to be a bigger Rental Property Investor as well, as I would like that residual income.

I wanted to invest in a property in Oahu that we would be able to rent out so we could get residual income.

I was bored and just riding around town one evening and saw an abandoned house in the middle of a nice neighborhood (boarded up, grass overgrown, residue from flames, garbage, busted window, etc.). 

You may need to open the top access lid to add water and have any residue pumped. 

If I had 300K to invest I would use that money for down payments on multi family properties and have residual income each month.

If you are in for the long haul:  The turnkey may appreciate over time whereas the note will eventually be paid off leaving you with no residual value.  

I'm a workaholic, and although my business is doing well, and I can bring in money for deals, I hope to be able to shift my focus to real estate to have more time with family, residual income, and a sustainable future.We have experience with renting, both good and bad.