FYI, here is how a veteran home inspector described our situation: "While the electrical system appears to be operative at this time, it is below current electrical standards. 

Our KS real estate laws work as described in Nathan G's 3 license scenario.

what you can do is justify your offer with the same configuration house that has similar PSF like the one that you described.

This approach described above does two things.

What you described is a little unclear because some abbreviations aren’t standard where I am, and you say ‘I’ and ‘we’ interchangeably, so it’s unclear if you are the buyer or representing the buyer.  

If they’re on 2 separate parcels of land, I suspect you may have issues putting both on an FHA loan (even if living in one) because the other won’t be owner occupied clearly.When you describe them as 4 units and 2 garages, do you mean 2 duplexes which each have a garage?

Everyone here has described in great details some fantastic ways to get started. 

Little bit of a different scenario than what you described... but similar idea.

Denver eyes turning off natural gas, requiring all-electric new buildings in climate pushDenver wants new construction in a few years to be “net-zero energy” buildings that use only electricity from renewable sources, slashing city greenhouse gas emissions.The plan, and the building code changes it calls to have phased in starting in 2024, doesn’t explicitly ban future construction from hooking up to natural gas, the fuel used to heat the space and water in nearly all Denver buildings.But it does call for requiring new construction to use all-electric heat and water heating, first in homes and then offices and large multifamily buildings, and then require enough new solar power with development projects so that new buildings in Denver after 2030 won’t use any energy from fossil fuels.Denver’s Net-Zero Energy New Buildings & Homes Implementation Plan, produced by the city’s Climate Action, Resiliency & Sustainability office, will be the subject of hearings before a city building code task force this summer and then City Council hearings later this year.The plan phases in requirements for all-electric systems in new construction, described in one goal as having new buildings and homes be “free from natural gas” by 2030.City climate officials, when asked, didn’t identify any role natural gas could have in future new buildings.

Given what you are describing you will probably have enough money sooner rather than later so don't lock it up.