I'd look for signs of arcing around those outlets.Other things I look for are how is the foundation, cracks in the walls (assuming lath and plaster), condition of the mechanicals, depending on what the house is built on, I may get a radon test done for the air and water (near me there is a lot of ledge, so radon is an issue in most homes). 

i get cards, calls and texts every day from wholesalers for my little portfolio - so that shows you how much competition there is out there.it's also tough to do as a beginner in real estate, because the best wholesalers surface strong deals and know how to estimate a rehab.  

Also, the city's building code could be different as far as the required fire rating for party/shared walls, etc, thus the construction costs could be higher.

I got future walls done with wood panels as well as paint and wallpaper put up.What was the outcome?

So I’ve since blocked off the third floor on one side and rented it as a 1 BR for now. but when the other side leaves eventually I’m starting to lean towards raising the ground grade 28” so that the total drop is less than 20’and then I’ll knock down some walls and make the whole 3rd floor attached only to that last unit so that the whole area can use the stairs and that window as second egress. 

The has been a lot of cases where the rehab was done to make it look beautiful to the buyer but everything behind the walls or where eyes cannot reach is done incorrectly.Even big new home builders do this kind of shady business where it comes to a point it is necessary to order inspection for new home builds in US .

I think the best bet would be to surface it to all the local investor groups here.

Remember, once the foundation is fixed (and it never is), you have to fix the superstructure items that were thrown out of wack, starting with load-bearing walls.  

Is there any place within the unit where you could add a through-the-wall A/C unit such as a ductless system or a window unit in a wall sleeve? 

Quote from @Jaron Walling: We're still renting my first property from 2018, have cash-flowed every month, and "lost" every dime replacing the HVAC this year.