I have a SFH in Cincinnati that has Asbestos siding. Originally I planned on painting it then learned it was asbestos so then I planned on getting new siding to give it some curb appeal but 9k quote doesnt fit in the budget. Got a quote to paint it for 2600. It is currently painted green but has new white gutters and soffits but yellow trim capping and black window capping so it's multi-colored.
I am keeping this as a rental and doing a BRRRR.
1. Does new siding impact the ARV appraisal immensely?
2. I was told I have to disclose asbestos is there regardless if I get it painted or cover it with new siding anyways so I understand there is some liability. Liability goes down a bit if it is covered rather than just painted but wanted to see what your experience was or what you'd recommend.
There's no danger presented with Asbestos siding. The fibers have to be small enough to be inhaled or ingested. Unless you're outside sanding the stuff, it should be fine. Paint over it and move on.
Will new siding increase the value? Sure. Will it increase your rent and make it a better investment? No, it's more likely to pay off when you sell.