If you're talking about rewiring the entire building all new wire plus panel.

I remember 30 years ago that ALL of our electricity was supposed to be produced by solar and everyone would work a 4 day work week by this point in time.

Without seeing the home its hard to say, but many UH basements have paneling.  

Euro style glass door and glass panel above the knee wall.

You could add an access panel door at the plumbing locations for easy access.  

I won't get to technical about it but you have nothing to be concerned about.The panel in your unit is called a sub panel, this is also normal and your limited access to the main panel is not a problem.

They have wood paneling walls and haven't been remodeled since they were built in the 70's.

We own another duplex in the area that has done very well but bought it 7 years ago.Sale Price: 426KBeds/Baths: 4 beds 2 bath on one side/ 3 beds & 1 bath on other side which can be upgraded to 4b/2bath.Closing costs: $8749 on Mortgage:  4.5 % 30 year mortgage with 25% downRepairs & Rehab costs: 30-50K to add AC units, new furnace, new electrical panels both sides.  

If a fuse blows and a spare isn't readily available it's all too easy for a tenant to stick something like a penny or piece of pipe in the panel and create a fire hazard.

Part 1 | Skilled Labor and Value EngineeringPart 2 | Trends in Construction and Modular/Paneling Construction