Updating the knob and tube might just be flushing cash down the sink unless you can get a solid return on all of the upgrades. 

A bank will not typically lend to you at a high LTV and will need to see a solid debt to income.I can refer to you some Hard Money lenders here in Columbus, Ohio 

Aside from the interest rate and amount of the loan, you should also look for a lender with a solid track record and reputation.

That information is readily available from an online search and then you can reach out in that specific market.And, most of all, get your message solid.

I would suggest fund a local meet up investment club that services Barstow for a solid referral for contractor .

Other than that your deal looks solid

Many solid and popular books about rental property investing have already been recommended here, so I'll suggest some less obvious reads...Liar's Poker (Michael Lewis) for pure entertainment and a primer on how Wall Street supports liquidity in the housing market.Home (Witold Rybczynski) to appreciate the many different ways people want to live inside their homes.What Every Real Estate Investor Needs to Know About Cash Flow (Frank Gallinelli) to understand when and how to deploy key financial metrics to make better decisions.Handyman In-Your-Pocket (Richard Young & Thomas Glover) to be your own handyman and/or check up on contractors and subs you hire to work on your rentals.Have fun and don't forget that you'll learn more by doing your first actual deal than you will from all the books in the world.

@Kiley Marvin Great work, looks like a solid long-term investment with a variety of options to maximize cash flow.

Plus all of my properties easily cash flow and have great top shelf tenants, but that was attributable to really good timing, property and property management selections, and ignoring the strategy Du Jour in favor of time tested hard solid analysis and sage advice (Buffet/Munger). 

I'd do the minor reno and get into some more solid properties so that your tenants can pay the equity instead of leaving all your equity tied up in it.