Removed paneling, removed carpet, refinished hardwood floors, tiled the kitchen, new countertops, new lighting fixtures, and new paint.

thinking of meter panels at one main location and simple 50/30/20's at each pad.   

I see the electric panel is concealed in the kitchen cabinets and me and the realtor was trying to find it and it took us good 10 mins to search.

That came up at during a panel discussion at our REIA a while back.

My latest rental property had the main lines from the meter to the panel box wired in aluminum, and the rest in copper.

The only issue I have run into is that State Farm (in Oklahoma) will not insure houses with the old Stab-Lok electrical panels.  

So look check out that electrical panel and make sure to have a good, experienced inspector confirm what your friend told you.

Property info:700 sq ft studio/junior one bedroom with one full bath (has a dedicated sleeping area with translucent panels to provide some privacy from rest of unit), has a balcony, stainless steel appliances, exposed duct work, washer/dryer in unitLocated in U Street Corridor of Washington, DCFinances:Paid $348K in Feb 2011, current market value around $460K ($465K from Redfin, $485K from Zillow)Mortgage balance of $249K; PITI + condo fee is $23K/year vs. $2,400/month or $28,800/year in rent.  

The elctric panel is not safe and needs to be replaced, a basement wall has a crack and needs to be beamed, probably cause by water from the missing  downspout extensions. 

There is currently one gas meter and one electrical panel.