I will call around for a couple of electricians to come out and give me an estimate.  

An investor will discount any offer they make if the wiring is not upgraded--you must get a good estimate of what the upgrade will cost and what the house is worth and decide if it is worth spending the money.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookPaul

I always install it when I buy a new unit, so I can't say what kind of increase is warranted, but I will say that I estimate my houses would rent for $100-150 less per month if they did not have CHA (comparing them to the market where CHA is not installed). 

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Is it out of line in the case of slumlord/neglectful ownership to just ask the tenants if you can get a peak at the place, maybe snap some pics and get a soft estimate before you submit an offer?

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

Revenue is based on 3 things: a- anecdotal evidence of 2 friends that have been doing this for past 1.5 years b- studying the market rates and availability of other listings on air bnb c- asking some STR management companies (i.e. turnkey) for their estimates based on the properties I'm looking at.I'll definitely admit, its an estimate.