Lead paint was finally banned for home use in 1978.Houses built between 1930 and 1950 may have asbestos as insulation.

For my situation, the quotes to fix the insulation, windows, basement, etc were so high that it didn't make sense for me.

Permitting it will entail removing the drywall and possibly insulation so the inspector can make sure the all the utilities (electrical, plumbing, hvac) are installed properly (per code).

Could be a near short somewhere (e.g. frayed or damaged insulation) that completely broke down when the higher current was demanded. 

I have a couple of SFR and they cash flowed great for years until the roof , AC, windows, insulation needed replacing.  

Or at least it would mean longer for needing to save up to get the foam insulation done, which alone would increase the value of the home by at least 25% for the energy savings.

You have lots of unknowns at this point, and the margin of The Rule will insulate you from the risk of what you don't know.Also keep in mind opportunity costs.  

ONe of my clients that I fund in Chicago does a really great job.. they take their homes to the studs each and every time... all new plumbing new Hvac new roof new electrical panel and all new wiring Windows usually.. new insulation sheet rock all new cabinets slab granite counters full ceramic tile. 

If more info is needed just let me know.ThanksInsulation: $7,000.00 Remove, replace insulation & Ventilation in Attic and Crawl space Converting attic into bedroom, with new insulation Windows & Doors $2,000.00 Add new Sliding door in kitchen replace existing interior and exterior doors $1,800.00 replace garage door $2,500.00 Kitchen $9,000.00 Floors Cabinets Cabinet pulls/knobs Countertops Sink Facet Back splash/tile Electrical outlets Plumbing appliances Bathroom in Bedroom $6,500.00 a.

It will take years of payments for the borrower to earn equity to insulate the risk of loss due to default.