Now that the flames of the hot market have crept to my neighborhood, I could get much more in rent, however, all surfaces need updating and very soon all major repairs will need to happen.- Roof: in less than 5 yrs- HVAC: (there are two) should be unified and replaced but could last another 5 yrs- Windows: wooden frames with storm windows and in great shape but need a coat of paint- Exterior: Asbestos and beginning to fade so needs to be paintedQuestions:1) Would you sell and move on?

Flooding is defined as general or temporary condition of partial or complete inundation of a dwelling caused by any of the following:the overflow of inland or tidal watersthe unusual and rapid accumulation of runoff or surface waters from any established water source such as a river, stream, or drainage ditchexcessive rainfall.What happens if the landlord fails to provide the addendum and the dwelling floods?

@Dylan Grieve with more information I could give better advice, but on the surface I agree with some of the other comments-you might be underestimating the resale value and/or rent. 

I get free advice if I need it during the tenancy, and he has skin in the game if I need to evict for some reason.

Hard monney lenders typically lend both commercial and residential as long as you have a track record or can show good value and have skin in the game.

Taking risks, skin in the game, is how you learn.

Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!

Really :) So you need THICK skin, but they are out there!

They all wanted me (and they'll want you) to have some 'skin in the game'

Let them know that you are available, what you are offering and that you are investor-friendly.HML's will want to see you have some skin in the especially with no experience.