I would research your particular materials and construction and determine the likely risk, but I would seriously consider if your tenant is worth spending this kind of money on and what your plan would be for the tenant and project if you actually have a documented case of asbestos, which may require professional mitigation if you think you might have a liability situation with your tenant.  

As I'm sure you know construction is booming wait till it slows down....Plus is there even a demand for this in your area?

I work in construction doing residential remodeling.

They are merely a way for the town to track construction for the future and to collect money.

new construction there is a mandatory 1 year warranty by the builder by code in most states.then we buy the 2 10 as a parting gift.. home warrenties that you buy after market I suspect would not cover this.. regardless I would push back on this issue.. 

Hey Dethorn, we’re based in Charlotte and work with a lot of the local flip and construction players.

Hi @Dustin Trimble,  Roger at Inline Construction does great work:  http://inline-construction.com. 

   I've been  in the construction and woodworking industries for ~25 years now, and I'm finally looking at investing into my own projects.

Also, your construction numbers will most likely be much higher than you project here unless you are doing the work yourself. 

If you take a look at my bio I have experience in construction engineering, management and, estimating(commercial).