Flipping 1920s Craftsman Style House - Electrical Costs

[Ben Lee]

My partner and I are in the process of our first Flip and have an opportunity to purchase a 1920s, 2500 sq ft house in southern ca. It's in pretty rough shape and we're crunching the numbers to see if this big project pencils out for us. Upon initial inspection it looks like the electrical is a mix between knob and tube and Romex (looks like it was somewhat redone in the 60s) 1) we currently have 10k aside for rewiring electrical, is that reasonable? 2) no idea about the plumbing, but what should we estimate assuming we need to rework it? 3) what other things should we watch out for in this older home Flip? Our price sheet right now is over 100k with assumptions on these items. If it goes any higher the project may be more than we want to take on initially. Any advice is really appreciated!