But I'm an investor agent & a buyer's agent that doesn't buy the idea that Hud has recently implemented a nationwide no-disclosure policy where listing agents are now kept completely in the dark through the most vital piece of the sales process that HUD once relied on for years. 

The inspection will highlight everything that’s wrong with the property, and it’s vital to fix these issues first before tackling cosmetic updates.4.

Sticking to target margins during negotiations was vital to preserving investment value.

Sticking to target margins during negotiations was vital to preserving investment value.

Sticking to target margins during negotiations was vital to preserving investment value.

Just suggesting that regionality still plays a vital role in how we make a living in this world. 

If the wiring is nonmetallic cable (romex - plastic looking outside layer of insulation) and has a ground wire (3rd wire, bare copper) it might be fine to keep.

A GC will add another layer of accontability as well. 

I am looking for thoughts on whether I should be proactive with replacing a 20yr+ old roof (missing shingles, multiple layers, looks terrible) and a 25yr+ old hvac.

That distinction is important for one very important reason, the asset decisions are being made by the owners (or a direct family member) which eliminates a layer of defense for all these decisions.