I know it was unplanned and a  surprise but So is peeling off old shingles and finding rotten wet panels .

You may want to do all the electrical as well with new panel and it may be time for plumbing as well. 

Everything else has to be refreshed : Floors (carpeted, heavily spoiled and cat urine odor) Ceilings dry-wallWalls dry-wallElectrical is out of date (knot and tube all over, electrical panel needs replacement) Risks: Sanitization (cat urine smell, potential for pest problems)Structural integrity not checked (unable to check in a timely fashion due to deadline)Evidence of water damage on main floor ceiling, extent of damages unknownNo smell of mold in basement but knowing the city history of flooding, this is uncertainPlumbing looks recent but it was hard to be absolutely sure of this assertionThe reason I decided against in the end : too many unknowns.

If we do, then we need to upgrade 3 panels and meter sockets, which I have a bid for at 6k. 

The extremely damp conditions will infiltrate to the unit/s above and will drastically reduce the useful life of everything in the bsmnt. incl. the water heater, furnace, electrical panel, etc.

They have now forwarded it to the Appraisal manager with the Appraisal company, who is having a panel of appraisers take a look.  

You will need 1 for each unit and wire them into each units electrical panel (you could use actuators and power a single pump off 1 electrical source).

If you already have electric heat, you may not need a panel/service upgrade since it’s already sized for electric heat.

He spayed the panels and the tracks a light beige to match the other ceilings, and it looks nicer than I expected.

Here are the numbers:Purchase price - $210,000, with $4000 put in escrow by the sellers for repairsDown payment - 10% / $21,000Closing costs - $5000, about half in closing fee and half in pre-paids (taxes, insurance)Total cash out of pocket - $26,000Renovation costs - $23,000 ($4,000 paid from escrow), for above-mentioned work plus new central A/C and new electrical panel Furniture cost - $8,000.