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What should I do about asbestos tile flooring in a basement?

An inspector told me that 2/3 of our basement floor has asbestos vinyl tile. A number of years ago some water leaked into one corner but not since then; outside drainage has been improved. Suggested solutions: 1) Paint the floor 2) Wax floor (which has some spots and lumps) 3) Cover with waterproofed vinyl like Fiberfloor. If I do 1 or 2, can I later put down something like 3? Would water leaks ruin Fiberfloor if it was laid? What do you recommend ?
Submitted by ut2

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