I always replace the strike plates on all outlets and switches with fresh ones for a good contrast and new look to the area.If the place is clean and all fixtures work and are in good shape then you're on the right track.How the outside looks will help attract potential tenants.

U will also have to run HVAC and the required number and placement of electrical outlets.

Not to get into the tulle's but there is a big difference in borrowing from a local community bank ( rate wise) and also if things go wonky the work outs are quite different than from Private money who maybe sells their notes off through outlets like Peer st. 

What were some of the unexpected challenges of managing rentals in a college town?

Stop by other projects they've done unexpectedly and talk directly to the homeowners.

Doors, windows, outlets, spots on the wall / flooring.

In addition to safety, houses with knob and tube often don't have sufficient outlets for tenants.

When she has unexpected expenses then she will be stuck.

Your title was clear as far as they could determine and that's why you bought title insurance with them - to protect you in the case of unexpected claims.

It's not that difficult to rewire outlets (with grounds) from the basement and upgrade the panel.