For the electricity, if the circuits are run directly from the first floor's breakers panel to the third and not, it's similarly easy to transfer those to the second floor's panel, if there's room in the box.

Not a complete rewiring of the home but adding specific circuits that are not in place and can be used for future use which do not deem necessary now.

The well pump is on our house circuit breaker also, so we ARE paying for it, in effect. 

For me, this is a deal breaker.

Make sure he has access to common area where electric panel is so if he has issue he can reset breaker.. or any other utility shut offs.. hitting a water pipe or blowing a breaker isn't planned but a quick reset or shut off is easy if you can get to the area. 

I've been searching for a property to invest in for a while now, and I've come across a handful of properties which would have been good deals if the tenant would cover their utilities - that's been the deal breaker.

JDI know what your going throughI had to learn from hard knocksit is my suggestion once you get the deal closed and you have the keys go through the building and make sure everything is off, breakers, water, gasget you a compressor and a pressure gauge to check the water and gas service- turn the meters off then you can check the service connections to the meters and not just the buildingget you a meter and turn the breakers on one at a time and check for ground faults and line voltage and label the panel accordingly to the breaker, this way you know what circuits are running which areas esp if someone has done work on the propertyas far as the split units or gas packs the only way to know if these units are operating correctly is to turn them on and check your pressures you will need a ac guy if you don't have the equipment to do this workenjoy

So it's a mess to understand.I can say the biggest killer to watch out for is electricity circuits being shared between units.

@Jon-Erik Tucker While it isn't ever a deal breaker, I personally like to have properties in the best school districts.

Might want to bump your numbers up a bit just in case.Also on electrical, take note that the breaker panel might have double tapped breakers (common back then) which is big time no-no these days.