Is there electrical damage?

You could look for a house that already has the right plumping and electrical lines run down there so the costs would be minimal.

In the Old lease if specifies that tenants must use the garage solely for a running automobile.

Good for paint, flooring, electric, sink etc.

I plan for a minimum of $2k for code inspection work- sidewalks, window locks, trip hazards, maintenance issues (basement wall sealing, exterior brick work, painting exterior trim on windows, screens, and then all of the expected- plumbing, HVAC cert, chimney cert, electrical,  and on and on.)  

The units were separately metered, so no electric or gas bills. 

We sub Carpet, Electrical, Plumbing, and HVAC.

If I open up a wall then I am responsible for bringing all framing/electrical/plumbing up to current code before hanging the new drywall.

The last time we moved one the telephone company had a man on the roof to lift telephone lines and the electric company had their guy and the city had their guy.

Upgrade electrical panels.