A properly installed electrical system should last a very long time, ive seen homes that still have knob and tube wiring (0 insulation) that still have functioning electrical systems.

Should I just increase my umbrella coverage limits or try to insulate my self also with an LLC?

They come with fantastic insulation between the floors, extra parking on the side with a separate entrance, their own laundry, and plenty of bedrooms up & down.

You might be able to erect a shed style place for that, but that's minus insulation, electric, plumbing, finishes, furnishing etc etc etc.. $3k is fantasy land. 

We also insulate you from that headache... that's what you pay us for. 

BUT the risk of needing to renew as markets change are real, I never borrow more than 60% LTV  (thats where im comfortable my banker will give me 75-80% if i want it) lets say the market starts tanking this year and I have notes due to renew next spring, and values drop, there is a risk my loan to value will not be adequate to renew the loan if I borrowed at 80% but at 60% i have some insulation from that.

In one of mine, I was planning to remove the carpet and install vinyl plank, but my handyman suggested cleaning the carpet then laying the floating plank on top (using carpet as insulation and padding).  2.5 years in and so far so good -- definitely softer and warmer than the concrete underneath, and easier to clean. 

Thank you would it cost more then 200,000 to just do the basics like, insulation, electric, roof and plumbing?

Electric heat would be crazy expensive I think due to it being brick and not insulated.  

They are already separated, so now, we are just going to add the doors and some new insulation and drywall.