We can look at the bones and have a few contractors we use - roofers, HVAC, electrical and plumbing - that we can call if we are serious about a property. 

Central air conditioning offers numerous benefits, including increased energy efficiency, improved indoor air quality, and better overall comfort for tenants.

Did you purchase an electrical contracting business or build it from the ground up? 

Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

It has been recently introduced and is supposed to put a cap on the cost to install utility hook ups for new construction and ban hedge funds and corporate entities from buying single family homes in California):SB 1210"This bill would, for new housing construction, prohibit a connection, capacity, or other point of connection charge from a public utility, as defined, or a special district, as defined, for electrical, gas, sewer, or water service from exceeding 1% of the reported building permit value of that housing unit.

For example, hourly labor for electrical work, what I’m seeing at least, is roughly 1.5x what it was pre-2020.

My electric bill is too high but I'm not going to disconnect from the grid.Limit your property purchases to Iowa and you're all set.

Answer - you openly admit you've spent your time and energy to educate yourself. 

Updating plumbing, electrical, etc. is not as expensive as most folks think, especially in smaller homes that are abundant in the Detroit market.You also have the budget to do BRRRR's in a market like Detroit, but please don't try and go that route on your own. 

Had the seller fix the electric and heating as well as bring the units up to city code.