Did you open the breaker panel and look for modifications?

I've got a panel of sub-contractors I work with who will help me price out the renovation work.I plan to follow the project after I assign it.

If not then I wouldn't do it on a rental.Why remove wall paneling?

Adding Breakaway panels that allow water to flow through could be another way.  

I only have one electric panel so I'd like to get a sub meter so I can charge them for electricity (don't want to charge them a fixed rate but the actual cost of their portion of the electric).Any recommendations for the best brand to buy?

The house also has a 100 amp panel which I'd most likely have to upgrade. 

Electrical Panels -  The inspection uncovered that the electric panels were made by Federal Pacific Electric and have a design defect where the breaker does not timely trip and the thus increase the risk of electrical fire.

List of upgrades includes but not limited to:New natural gas heating system complete with new panel heaters and thermostats throughout the building. ($25k)New domestic plumbing throughout ($4k)Wiring upgrades including new meters and service entrance to accommodate new W/D hook-ups in all units ($15k)Installed 2nd driveway, 20' x 37' ($3500)24 new windows ($7200)Gutted and replaced kitchens and baths in 3 out of the 4 units.Refinished all hardwood floors, painted all units, fixed repaired trim, and all interior and exterior cosmetics.4 new sets of appliancesBEFORE                                                                                                               AFTER

They got an appraisal (think 1950s house never been updated, rear garage corner rotted apart, roof was 40+ years old and crumbled off in the wind, soffits and some wall rot, original boiler, outdated panel... a mess).

I am also interested in investing in other Real Estate opportunities.For the moment, I travel the country installing Solar Panel and my next site is in Amsterdam, N.Y. any BP members in the area???