Eventually, we have plans to remove the duct going into that room, and install a MrCool AC unit (or similar concept) in that unit as we will eventually be turning the rest of the house into a rental as well.

One suggestion I had for them was to start negotiating upgrades to compensate for the delay (colored paint, ceiling fans, light fixtures, etc..). 

New distressed flooring throughout, freshly painted interior with contemporary paint colors, new baseboards, ceiling fans, recessed lighting, remodeled master bathroom and additional full guest bathroom.

:)In order to make the home rent worthy, we would need to repair these items soon.New windows - $12,000New Septic Lines - $ 5,000New HVAC and Ducts Soon - $8,000Trim some overhanging trees - $4,000Replace Floor In Sun Room - $6,500Total = $35,000I am sure that we can get no more than $1,500 per month in rent as the home is pretty dated looking.

IMO the current colors are unappealing. 

I suggest asking for a color PDF copy of that appraisal and there’s a chance it can be used with another lender with the right process set in place.

I also know it needs updated windows and insulation, ac duct work, possibly another unit but, can't tell until new windows and the duct work is redone.

Thanks @Jack Medford for the additional color and reference. 

This installation method would not disturb what's there in a serious way, as the new gypsum would be pressed up against what's there.My understanding is that it's a common and accepted practice to cover up some forms of asbestos, for instance, layering new tape on top of the old white asbestos duct-work insulation I believe is a common approach. 

ALso pick a darker color like walnut brown, the core of the laminate is darker colored, so when the wear layer gets scratched it's much less noticeable when the top color is a darker too.Carpet is absolutely the easiest and most forgiving flooring, but, you will have to professionally clean it, it will stain easier, it will be more susceptible to bed bugs.also, carpet does not age well... and when I carpeted my units I found that we ended up having to recarpet every 5-10 years because the places wouldn't show well with 5-7 year old well lived on carpet, no matter how many times we cleaned them(cats and dogs were there, even worse).... with laminate flooring it's more like 7-12 years.Also, I approximate that you get a solid 10-15% more with "wood looking" vinyl, laminate, or tile.Just my 2c