I would want to have the tenant sign a lease with me but didn't know if there were any special considerations/precautions I should take.

Now that you know, however, you do have a duty to take some precautions. 

Are there any precautions one should take before selling the property?

What precautions should I take?

If we decide we need to remove the attic insulation and haven't confirmed presence of ACM, we'll definitely take precautions and make sure that our tenants are out (the remediation contractor wouldn't do it with occupants anyways) and then they'll have to do air clearance testing (I've actually managed a few asbestos remediation projects so luckily I have a bit of info on this too).

Plenty people on this site do.You definitely need to educate yourself and make sure you take enough precautions to safeguard your investments.

Sometimes you need that other voice to assure you that you take taking the right steps and precautions.

Then I tell them that the step after the three day notice is to file eviction paperwork, but it's all just a precaution, so if they do default you don't have to wait all the extra time. 

My question what steps, precautions, or concerns do i need to consider when trying to wholesale discounted properties such as this??

So, I agree, I must be fair to myself, and this business, for having taken the necessary precautions to minimize my risk and come out ahead where tenants try to fool you.