We understand that this an older home but we want to feel comfortable with the electrical situation from a typical convenience situation as well as from a safety perspective.As you can see in the attached spreadsheet (by circuit and by room), circuit 6 and 5 are overloaded.

Keyed on inside is safety issue can not easily open door in case of emergency.Thoughts?

My professional background is in residential Energy Efficiency consulting, so I am familiar with retrofit projects as they relate to occupant comfort, improving energy bills, improving indoor air quality, and health & safety.

And this is an electrical work for a Fortune 500 company who is listed in the Fortune Top 50, so safety to them is of the utmost importance and making sure you have a complete understanding of electrical and controls skills.Thanks everyone in advance...

Try to build a good rapport with the seller that you might get financing from.Be a problem solver and be patient with your learning which you will always have.  

A few things that I was told by that FHA says are:Must meet the minimum standards of safety, security, and soundness.I found a link that goes into way more detail of what the requirements are for FHA loan:http://www.investopedia.com/articles/mortgages-rea...Hope this is helpful and you are able to locate a great property!

I'm mainly focused on cash-flow for the time being but being patient in the challenging market. 

Originally posted by @Varinder Kumar:How do I go about persuading him not to do it.Put some pants on and tell him "No".Yes, welders are a huge fire and safety hazard.

Since the inventory is mostly low in the whole country, depding where you are just take your time and wait a while to have a buyer's market so be patient with the market and wait for the market to go through its cycle.  

Be creative and patient.