I guess my plan is to go over there and map out the circuits and outlets with them one by one. 

Everyone would love to be able to 10x their capital in 5 years, LOL.When you figure it out let us all know so we can follow your proven path.Until then I'd suggest learning everything you can about value-add multifamily and focus on more realistic goals.

So reach out! Let's

I would try and pull an outlet or a light swithc off and see what the paneling is attacehd to. 

But recessed lighting, switching outlets out, drywall repair, etc is a fairly inexpensive way to start getting some hands on experience.

In rentals and flips I replace all switches, outlets, and covers.

A little warm is OK but if it's really hot, replace either the outlet (if the plug is hot) or the cord (if it's hot along the cord somewhere).

Typical things I charge for- professional carpet cleaning (Removed all the carpet so that is no longer an issue for my current properties)- professional cleaning services- ovens cleaned out- vents filters or anything else replaced  - all keys returned (I have and charge a rekeying fee in my lease)- all outlets tested and charged if they were broken - 5 year deprecated for paint (4 years equals they would pay for 20% of any painting needed)- light bulbs (per light bulb not working)- non reported leaks or holes or issues. - broken items in the property are also fixed and charged  My rent basis is 700-800 so my security deposits are one months rent.

Replace all outlets & switchesInstall vapor barrier in crawl Space The cost of the job is as follows;-New 2 ton compressor/new coil & supplies $1100- Central air install $600- Sub panel supplies & install $500- All supplies & utilities $15,000- Labor $6,000- Appraisal $500- inspection $400- Lawyer $500- Lawyer fee for zoning correction pendingWhen we began the rehab we noticed the previous owner created a doorway between the apartments and originally the was a brick wall between the two units.

Do something extra for them...for example, I add a few nightlight outlet covers and a cool custom light fixture in a common room.