I went to a Marcus & Millichap multifamily conference last week where they had a panel of lenders speaking. 

New service, new panel, all of it. 

Very soon, the electrician I hired will replace the wires in the walls, and two panels, plus drop the power line from the pole. 

Currently not livable because HVAC and plumbing are not in working order. 59,900 List Price90,000 Realtor Provided ARV37,500 our cash offer (no lending because it's not liveable)40-45k - Repair estimate (roof+double layer removal, foundation and sump pump, asbestos siding removal/replacement, HVAC replacement including about 40% of ductwork, electrical panel replacement, plumbing updated from cast iron, complete kitchen and bath, chimney removal, 1100 sq ft flooring, all interior doors and hardware, single garage door, windows and 5 exterior doors, yard drainage issues and tree removal, drywall repair and other finishes, possible mold remediation)$345 Expenses (excluding mortgage) $950 Monthly Rent 

What tips you off to a bad furnace, a bad roof, what should you look for on the electrical panel, what are all those wires hanging from the basement ceiling, etc etc etc.

. #.You'll just need to go into each room and hallway and figure out how many panels (4x8) sheets you'll need.

What I didn't know was the panel is a recall and needs to be replaced.

Licensed structure engineer report.Plumbing, dryrot (siding), termite. wall and attic Insulation.  35-50 year old home roof material warranty, gutter 10 year labor warrantyElectrical panel inspection, 100 amp circuit breaker.....100 years any tree in front.

It is a1960s house in good shape and livable but cosmetically very outdated with wood paneling, green tile in the bathrooms and old tile and laminate in the kitchen.

You may want to attend tomorrow night's RIREIG meeting as there will be a panel of several people discussing the topic.With seller financing you may be able to put much less down on the property, depending on the seller's needs of course (which is the most important part of seller financing and arguably all real estate - understanding the seller's needs, and it's not always about money!).