When we were renewing the lease (changing from older owner to me), they could have used this as negotiating power to drive down the lease but they didn't.

We are also aware of the power of partnerships and would love to have a partner to fin great cash flowing deals, we just sold out house and now live in a 2bd rm apartment waiting to snag a great rental property I would love to meet up with you

Better protection is an arc-fault breaker, because arcing from missing insulation is one of the dangers of K&T.As for insulating, obviously anything that looks like it is loose or coming apart I would re-wrap with good quality electrical tape (electricity off, of course, when you do this) but beyond that you want to keep combustibles away from the wiring. 

Units need LVP flooring, lighting, electrical and vent improvements, kitchen cabinets, HVAC upgrades, windows, etc.

So even with electrical + restoration, still ok? 

But I wouldn't want to underestimate the power of a big news-generating company like Tesla announcing the CA->TX move as it feeds into the headlines and momentum of Austin as the new up-and-coming tech center in the minds of many news-watchers out there and will make decisions over the years to come of where they want to be/move to be part of the action of the future. 

That free's up your FHA buying power to use again for the 3.5% down and again if your buying a 2-4 unit for less down. 

What I need is a maintenance service that can take care of electrical, plumbing and general handyman maintenance items that tenants might require fixing.

I'm part of the electorate whose lines are gerrymandered so as to protect the entrenched power and dilute my vote.

This will help determine how much borrowing power you have and qualify for.