Knob and Tube Wiring on 3 Unit Properties

[Raymond Hill]

Hello BP Family,

I just got a home inspection for a 3 family property and found a few items that I want your advice on a property I just had a home inspection on in Woonsocket, RI.

1.) The seller was told that there is knob and tubing wiring and it is 99% inactive. Come to find out, the inspector stated that the knob and tube wiring throughout the property is 99% if not 100% active and needs a junction box and fix some of the splicing. 

2.) The 1st floor bathroom has significant water damage to the drywall in which I will need to put in a new bath fitter and repair any and all moisture damaged areas. 

3.) Install new gutters and downspouts around the house. 

Just to add context the property is fully rented 1st unit 2 bed 2 bath rent: 895 2nd unit 3 bed 1 bath rent: 995 3rd unit 3 bed 1 bath 720. The 3rd unit needs some cosmetics repairs, nothing immediate. Other 2 units are in good condition.

Thoughts?