@Lucas Carl I knew it was old, but assumed that someone, at some point, may search for this kind of info.To correct a point, I only said TN law prevents you from advertising more bedrooms than is on the septic permit.

If you don't want to convert the house to forced air heating there is a wonderful option for cooling a house this old: ductless air-conditioning.That's all I can think of at the moment.

If you have quieted the title, you should be able to get title insurance, which would protect you in the event anybody tried to pursue a prior lien.All that being said, in the US there is nothing that can prevent someone from suing you for any reason they want.  

Bleach does not kill mold and you could release the spores into the air.

I needed to fix air packet leak in copper piping. the whole drywall was moldy. so I replaced that and started painting. until I know what they want me to do I only paint.

For instance, if the property has a significant amount of 'deferred maintenance', you know, broken windows, worn roof, or a missing central air unit, it won't be eligible for conventional financing.... that just means you'll have a hard time getting a loan for it.  

How likely is it that something would change in the market that would prevent you from being able to earn a consistent income at this?

It went so far that the RNC tried to turn off Reagan's microphone during the primaries debates and prevent him from being heard.

Any of the "dust" in the air from spraying the walls will generally dry before hitting the ground, and can just be vacuumed up.

@Leah DexterDo a ton of research through VRBO, Air BnB etc.