The wiring needs a little work, but is relatively up to date (no knob and tube) and the plumbing, heating and windows are in good shape. 

Electrical, plumbing, etc needs to be evaluated for extent of damage.

The first picture shows the entry way/living room and the second shows the upstairs bathroom.The largest parts of the rehab included removing bat guano from the attic, tearing out lath and plaster walls, removing all plumbing, cleaning/scraping and painting the exterior of the home.

Plumbing & electrical work3.

A few days earlier the tenant tripped and fell on the sprinkler main plumbing system by the house and broke it and told us water is going everywhere come and fix it now?

Check electrical, plumbing, to make sure they are in good shape.

Repairs = $40,000New RoofHVAC - Currently has window AC unitsRemodel kitchen & BAPossibly new windowsFlooringWasher & Dryer connection are in the kitchen, so I need to figure out what to do with that.Owner says that there are no problems with plumbing and electrical, but it's an old propertyRecent Rents = $700 per side ($1400 per month)My analysis per the BP BRRRR calculator says that I would still cash flow (see image below).

But major issues with plumbing, electrical, missing walls, methlab, massive termite infestation, etc. will. 

Plumbing  3.HVAC.....Help!!

Plumbing Fixtures: Do not buy the cheap off brand plumbing fixtures.