The home needs some tlc from new flooring, half a roof, paint outside and some other cosmetics but could be a strong BRRRR investment.  

We lofted the ceilings and rebuilt the deck, new roof, skylights, electrical, plumbing, kitchens, baths.

Needs $27k of renovation work: electrical, plumbing, painting interiors & cabinets, fix external rails, add roof cap.

I'm now going to need to paint the property myself to make up for the lack of funds if anything else comes up, or I'll be over budget. 

Also keep in mind that combining your finances with you wife for a bigger multi-family using FHA or similar loans might end up better than 2 separate investments--1 roof and as much as 4 units.

No only will you be updating4 bathrooms (4 x $5k = $20k)  and 4 kitchens (4 x %10k = $40k), you likely will be updating electrical and water and HVAC, maybe the roof and floors too. 

How many tenants can you put under one roof?

In addition to staying within the proper LTV, the bank is also going to need to see an adequate Debt Coverage Service Ratio (DCSR) of at least 1.25.  

When looking I found a house that looks somewhat promising, but currently has solar on the roof that the seller is renting and the buyer would have to assume.

.-- Owners maintain the property so those who cannot afford to do it have a roof over their head that does not leak (an un-doable repair expense for "The Working Poor"), and replace furnaces so they don't freeze to death in the winter, and replace hot water heaters so they can wash.The working poor cannot afford to buy furnace, let alone the price of installation.There is not a renter/owner problem in the USA, other than what is being artificially gined up.The system works well for both sides.Just my 2 cents.