Most everything can be upgraded without gutting a home!

Well it sounds you will be on the hook for a septic upgrade.Has the township told you, you need to upgrade the tank or do they only want the drainfield inspection?

split the home into two units, upgrade appliances, add hvac, split the yard for each unit.

Or, is it possible to use a PML for just a downpayment for a turn key DSCR multifamily property not in need of any upgrades?

E.g. fire rated construction requirements on main homes, survey & soils reports, utility upgrades. 

Get basic formal education first from such name, and get upgraded eventually.... question like "what sponsor has to be avoided ?"

Electrical wise duke doesn’t charge a fee so it will just be your electrician fee to set up the home for 2 meters so if only doing a service upgrade could be $3000-$6000.  

On my first property we were planning a cosmetic flip based on the inspection report with a mediocre inspector and unfortunately once we got into it I spent close to $60,000 rewiring and making many mechanical and physical upgrades.

I upgraded from Beyond Pricing to Revmax and have a dedicated Rev manager that looks at my properties daily. 

If you've made upgrades and you put 10% down, surely you can get in to conventional and drop your PMI- that is going to save you even more on top of a lower rate.