What expenses will you eliminate with this money? 

Following our screening, credit, employment, income, previous and present landlord, drive by present residence etc. we inform them as to whether they are accepted or not.We have a criteria for the ideal tenant and eliminate many following the personal interview without having to do the in-depth screening. 

Not only do they eliminate their marketing expense, people are paying them thousands of dollars to market on their behalf.

Equity's training programs are better and more helpful.Equity has a relationship with a mortgage company that will call and pre-qualify your leads for you (and they remain your leads).Equity is an 800-pound, elegant gorilla in the industry and particularly in Utah (where we maintain a 22% market share) which means that we can negotiate better arrangements with vendors even nationwide.Equity is very well represented in local boards and NAR.Equity's Profit Share Program is one-of-a-kind and pays out $40-$60K every month to Agents religiously.Equity's model doesn't eliminate the incentive for brokers to continue to be helpful to agents which results in higher service ratings.These are just a few areas.

The strategy I came up with to eliminate the risk was to include a requirement for the seller to have it inspected, removed, and restored if it was in fact asbestos.

I've come to the conclusion that it is a long game, not so much short term cash flow...I have been considering the strategy as follows:Short Term:Dividends (AT&T, JNJ, etc)C-Class properties with no mortgageMedium Term:DividendsB- Class properties with 15 year mortgageLong Term: DividendsA-Class properties with 30 year mortgageAs time goes on more cash flow is essentially "unlocked" because the tenants eliminated the good debt.

Water pooling near the foundation could exacerbate the problem but is rarely going to be the cause of the problem; if the footers are not on firm soil in the first place, gutter water or normal rain water isn't going to matter as all water will eventually percolate and eliminate air pockets. 

Eliminate property known to be purchased after 6/2008, eliminate known low equity, home value less that $100,000.

I believe you can eliminate your taxes.

This will cut down if not outright eliminate tenant locks outs & reduce your lock change costs at every turnover.Remove ceiling fans & light fixtures with anything like a chain that can be pulled or hung on.