I found a 3 unit home, but the seller said it has asbestos sidings. As a new investor, what are my risk?, or should I simply stay away from this?

Originally posted by @Rex Harris :
I found a 3 unit home, but the seller said it has asbestos sidings. As a new investor, what are my risk?, or should I simply stay away from this?

You can get a quote to find out how much for remove and replace with updated siding. As long as asbestos isn’t disturbed it should not cause harm or be an issue - from what I’m told by the experts but it’s also a case by case and the current condition. You can also use that as a negotiating tool for a low price. A 3 unit -  that sq ft is a lot to replace - get a company to give an estimate of replacing - they should be free estimates. They are in my area.   

@Rex Harris   Asbestos is only harmful when it's messed with, broken, and being disturbed. Tons of buildings have asbestos flooring/siding, and other components. If it is in good condition, it can last a very long time. If the property you are looking at has areas where it is deteriorated, that may be an issue, but, overall - it's not a deal breaker in my opinion.

Thanks Daira and Megan. I appreciate your response. And will be looking for an asbestos removal specialist to give me a quote.

Asbestos siding last forever and 1 day .  It causes me no concern what so ever .  Its only a problem if you hit it with a saw or grinder .  If it were a major problem lots of people would be in trouble .Most houses built in the 1960's and 70's have it .

@Rex Harris

I echo what others have said.  My rental has asbestos shingles and are 83 years old and still going strong.   Expensive to remove.  Check the epa site for landlord disclosure info and process. 

https://www.epa.gov/asbestos

My concern is with the bank. Will they lean me on a property, knowing that the sidings have asbestos ?