We just bought our first house last year, and in the back of the house, there are sheets of plasticized paper/Tyvek hanging about 4" from under the last sheet of vinyl siding, right above the foundation. When i lift it up and look beneath it, I can see the edge of the wooden floor or baseboard that sits on the concrete foundation. There is nothing covering the wood except for the flimsy paper and siding.
Do I need to cover this wooden edge with flashing to protect it from the elements? I want to cut off the 4" of paper hanging out because it's ugly and curling up, but I'm afraid that's the only thing protecting the exposed wood from moisture.