When I go in a house if I see galvanized water line, cast iron water line and 2 wire electrical outlets I figure on doing the plumbing and electrical right off the bat, I really want to take care of my customers but am I putting to much emotion into buying since if I was the one buying this would be a red flag for me.

@Mindy Jensen,good catch on the grading under the house.hope you rented/bought an extra pump just in case.now off-topic, this-old-house had a few episodes where they explained the types of sump-pumps.they had mentioned one pump that runs no electricity, using water pressure from city water.many houses in chicago area had basement floods because there was no power for extended periods of time, which eventually drain even the battery backup.

So if I am hiring a contractor to repair the electrical on my renal units, that seems like an action of the LLC, which would be shielded under that company. 

Put it in your repair estimate if you find out later that it doesn't then you're okay.Budget for plunging electric roof mechanicals drywall...

If you are considering living on the land you would want to know if there are utilities at the property line or estimate the cost of bringing utilities to the land such as electrical, water, gas and sewer or find out if you would need to install a septic system and if the land slopes enough and has enough drainage for a septic system to be installed and work property. 

Here is how it happens...The tenant rents a place with a well, not city water  A well pump needs electricity to run. 

The total electric bill went from $150 to $7.

@Martin SchererWe use a common solar thermal storage tank (~100usg) at a 6-unit property with each unit having it's own in-line water heater (electric at that) to provide the final lift.  

Did the pipes freeze due to heat/electricity being turned off?

Gas stove, electric a/c.