If it is painted and that old you may have to use lead safe practices.

I don't know a single electrician that thinks they're safe.

You have the same security issues that you do with the dwelling, providing a safe and secure building.

They’ll have to be lease options because of the SAFE Act, but I’ll structure them to have much of the monthly payments going toward the principle.

When trying to obtain some form of home equity loan the bank will want the home to be 100% complete and safe from health and safety hazards, so there is the chance that you would hit a road block going this route.  

But, better safe than sorry so don't leave any stone unturned.

* The dreaded SAFE Act comes into play if you do it habitually.

Without adequate reserves, you might not be able to survive as a landlord.Once a safe level of reserves is in place, then you should put the money into that which best suits your "plan".

-Unemployment is decreasing 8.7%The criteria I used is pretty simple: RealtyTrac, Zillow and city-data.Do you have some proved searching technique (demographic trends)?

It seemed to be the only "super safe" method that I could realistically achieve and that my lawyer agreed with.