Buying an older home from the 1950s can definitely come with surprises, and the need to replace electric, plumbing, and drywall is a big job.

Also just keep in mind characteristics of the property that carriers wish to avoid such as roofs 10+ years old, old/recalled electrical panels, no impact windows etc. 

I have had it an unusually long time due to anything that could go wrong did...bad weather, bad GC and back and forth getting the engineer plans through since it is a FEMA zone home.

I tried to estimate 20% higher on repair costs since i do not have a wealth of experience estimating yet, there is some minor water damage, and some heating and electrical that needs to be replaced, which is where most of the expense came from.

My friend scheduled for the electricity to be turned off after the tenant assured them that they would be gone by September 30. 

@Dee Mandrekar highly doubtful there's such a big difference between market rent and S8 rent.First off, the GROSS S8 amount includes specific amounts for all utilities - electric, gas, water, trash, etc.We do NOT recommend including utilities in the rent because S8 only pays a certain amount and the owner is then exposed to tenant abuse of utilities. 

To make extra sure it appraises high enough for the refinance, this would be after I talk to an inspector and get a few GCs to bid the job, might also get a structural engineer to come up with a repair plan for the GCs to look at when getting me bids.

EDIT: take a look at the SAILFLO 2000 GPH 12v Electric Bilge Pump. 

What's the condition of major systems like plumbing, electrical, and roofing?

In Reno, NV the Tesla factory and building of the Tesla Semi-truck factory has been bringing more, construction, executives and engineers to the area for 1-8 weeks.