No one is going to insure you with knob and tube so you need to focus on selling or doing the rewiring.

Imagine these older folk's financial planners did not plan on high inflation. 

Check out NerdWallet for tips on budgeting and debt management.

Closed on my First Property!!! 

@Sandra Ho, It sounds like you are talking about late payments on their credit report for things like credit cards, car payments, student loans, etc.

My title rep pulled a property profile on the house and it shows as a 2/2. 

Don't tell anyone but before I was able to close on the thing I decided to move on in.

Have you decided on which market you'll be investing in and what strategy you'll use?

If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

Are you getting a discount on this property?