Learn electrical, learn plumbing, the basics!  

Had a company that AHS sent over last year that replaced a heater, no issues.Different tech this year, same subdivision, different property, same setup (no pressure reducing valves and no pressure tank), and tech claims it needs "Sediment trap, expansion tank, T&P modifications, and permit", essentially more than what AHS says the new tank itself is worth.Figured I'd ask here if anybody knows the exact regulations, because the tech seems not to want to explain anything other than "We can't tell you by law, only American Homeshield can, we've told them what it needs".

However, the basement was a disaster - asbestos floors, some plumbing and appliance issues, holes in the wall, etc.

This means that you would comply with Regulation D, file a Form D and you would only be obligated to complete notice filings in the states in which you sold securities. 

It could be easy , it could be hard . it all depends how the plumbing is laid out .

As long as the house is mostly liveable, has working heat, electric, plumbing and a bathroom. 

I asked another plumber for an unbiased opinion on the "plumbing law" and he agreed that Plumber C, who installed it, is responsible for damages.Plumber C's insurance apparently does not have the provision to cover this damage, I'm not sure why as I don't understand all the insurance jargon, nor do I completely trust that the insurance company is just loopholing and trying to avoid a payout (the damages were about $10k).I don't want to put a claim in on my insurance because my deductible is (in my opinion) expensive and I don't want a claim against me (this is my personal residence). 

Cashing out equity works against that effort.You should raise rents to what the market and local laws and regulations allow.

However, it is need of some modernization(kitchen is 30 years old, plumbing and electric need updated, paint, etc). 

Overall Handyman cost was $350 for new shower plumbing (2 water stems to one, patch retiling).