You likely have several issues that could be a deal breaker.

I accidently wrote breaker box in the title but I meant to say meter.

You know that breaker 11 trips when you plug in the Christmas tree lights and run the vacuum, etc.This is a chance for you to see if landlording is something up your alley.I would be hesitant about renting to friends or family if you want to stay on good terms with them.I all comes down to cash flow.

Would this be a deal-breaker for you?

I've not figured out how to short circuit the process and buy them directly from the bank.

Take it to the nerds at Best Buy or Circuit City and let them figure it out.

Here's the formula that I have used for years and that I teach to all of my students:ARV - Rehab - Buy/Sell/Hold Costs - Profit = Maximum Profitable OfferThe MPO is the deal breaker price.

So far (in nearly 6 months), I've invested about $150 in the paint job, (for paint from Walmart) and the rehab consisted of replacing an old fuse box with a circuit breaker box (about $50), installing a new shower valve in one apartment ($94 with sharkbite connectors and pex), having one furnace repaired by a HVAC company (about $165 as I recall), and some carpet for one apartment that is on a slab (about $200) - plus my labor, of course.

If replacing the main panel, be sure the new one uses standard breakers, not a proprietary configuration.If there is ANY iron supply piping, replace it.

I pulled the AC breaker and fired the crew.