When the electrical panel you had wouldn't support the items you wanted to add to it, you should have recognized that; not necessarily that it wasn't enough, but that there might be an issue with it and to have an electrician look at it before you made the purchase.And again, these are not overages, these are change orders; not knowing the difference in another indication you got in over your head.

Everything from pre-fab foam panels to high-end finished woods are available at great prices... it just takes awhile to get to know the "guy" or "gal" and build a relationship to where you can make a couple calls and the necessary materials... materialize...

I have been researching ProAgent Websites and RealGeeks for the past several days and recently attended a panel session for lead generation which discussed both sites.  

Knob & tube = new electrical runs, possibly a new service & a circuit breaker panel.

This is an off market deal.Price: $200,000 + closing costs = ~$206,000 (market value is ~$235-240k)Current rents: $1,675/mo (slightly under market, potential to get over $1,800)Opex: $710/mo-  Mgmt: $167/mo (10%)-  Taxes: $200/mo-  Utilities: $150/mo (seller currently pays W/S/G -- possible to bill back a portion)-  Insurance: $70/mo (estimate)-  R&M: $83/mo (estimate)-  R&M Reserves: $40/mo (estimate)NOI: $965/moMortgage: $800/mo (20% down)Cash Flow: $165/mo (~$80/unit)Needs capital investments of ~$15,000 for new roof/gutters (3-5 years), 2 hot water tanks, and new electrical panel.  

If you want to add A/C and you start opening up walls in an old building you might find a bunch of things you do not like.So on an old building asbestos, lead paint, galvanized pipes, knob and tube mixed with current electrical, undersized circuit panels, galvanized water main going to the, trees causing foundation issues, new roof needed, mechanicals needed to be replaced etc.When you start adding up the big things it doesn't look as pretty anymore.

The building however has old fuses in the electrical box panels and the entire HVAC system is outdated and will probably have to be replaced soon.

The only place I've seen paint texture like that was in my grandmother's 1926 built house.The paneling in the dining room is another thing.

The lawyer said around $400).The property can be rented out now, however I did want to upgrade the electrical panel (which is fuse/ with 200amp service/ 100amp per unit), and to change the heating and water, which is currently oil, to electric baseboard heating and put in separate hot water heaters in the units (the area does not have gas, and the lowest electric costs in the country).I want to thank everyone for posting and sharing their knowledge on this site.I would love to hear any feedback on this deal.  

There is one gas meter, one electrical panel, one water meter and one water heater.