It would be devastating to overextend yourself and have the unexpected occur on FOUR projects, to the extent that you are unable to rent them and now you are stuck with four house payments, insurance, taxes, etc. and I assume you plan on having a primary residence, so five payments.

You never know what kind of unexpected expenses might pop up.

This was one of those unexpected costs that sucked away all of the potential cashflow to date.

I can update the sub panel to 100-200 amp setup and replace the two pronged outlets with three pronged outlets with GFCI's.

Utilities not onInoperable heat supplyMissing or insufficient weather-strippingLoose or torn carpetMissing or cracked electrical outlet cover platesCracked or peeling paint on wallsCracked or broken window panesMissing refrigerator kick platesEvidence of roof leaks/pipe leaksDirty stoves, ovens or walls and unkempt perimeter surrounding houseInsufficient bath ventilation and inoperable smoke detectorsLeaking faucets or plumbingNo temperature/pressure relief on water heatersYou screen your own tenants, then you submit the paperwork to have a tenant approved by the Housing Authority.  

She brought up an issue with some outlets, and I called a local electrician to come by and look.  

Did they wire new electrical outlets?

Vurtually every deal has some kind of wholesaler, cash for keys, unexpected rehab, whatever comes up, adapt and move forward.  

If you find out let me know. 

Closing costs, holding costs until you get a tenant on the other side, plus there's always going to be unexpected repairs or things you might want to do before they move in.