Must we assume this 1960's house meets electrical and plumbing codes, no lead paint, etc...?

Heck, the homeowner is too irresponsible to fix the missing shingles on the roof or the naked electrical wiring on the side of the house (which the judge used to knock down value).Be very wary of judicial states, especially in deep "progressive" states.

Unfortunately, the New London area has had a lot of economic setbacks because the area was very dependent on jobs at Electric Boat.

In the older building cold/hot water, and gas(heat) are paid for by the owner and the electric is paid by the tenant.

For instance adding Solar (purchased not leased) to my building will lower all tenants electric bill by $100 per month so I can charge $70 more rent on each unit.

I always replaced plumbing, or electric or updated things to code when needed.

Most of these were trim pieces, panels, and other non-functional pieces.The wall oven (which was purchased from IKEA) died 7 months after purchase - electrical fry on the main board.  

Due to the age of the building it is proving to be quite difficult (expensive) to move the units over to electric heat (only 60amp service).

Systems - electrical, plumbing, HVAC, insulation.

We tested the electrical outlet and it works just fine.