Renting it out posses the following issues:i) rent will not cover the mortgageii) showing will be an issue with renters residing hereiii) tenant presence may deteriorate the condition of the propertyThe purchased property came at a 40% discount and needs updating.  

Look at the roads for deterioration. 

I would recommend hiring a specialist to fix it so it doesn't deteriorate further.

There is significant deterioration of framing members in basement ceiling has led to a moving and sloped floor above.

The deterioration of work ethic that I have seen in the last 25 years, just in general, is appalling.

Some of the folks above mentioned already, but you have to be thinking about plaster, galvanized piping, entirely new electrical wiring and boxes, deteriorating bricks, asbestos, lead paint, etc. 

Landlords must make houses livable and provide services to repair natural deterioration that would occur to the house regardless of the tenant."  

You really want to avoid flex duct as much as possible....it deteriorates, debris clogs in it and, if it gets clogged with a gas dryer....it can cause a fire.  

If things start deteriorating rapidly, all I have to do is sell my properties, even if it is at a lower price than expected, and move the cash to Asia.

Why would equity be wiped out by depreciation if operations don't deteriorate?