You obviously have savings in real cash flow right there you can save or invest.

Another advantage is you can keep cash in higher yield money markets or t-bills while you are in idle cash.

Door replacement and framing (lack there of) and poorly installed electrical from the previous owner.

The property will still cash flow with the extra cost of these expenses. 

Well here I am going on 55 year old and been in the electrical wholesale business for about 34 years now.

I’d do a cash out refi and use all that cash to buy as many C+ class rentals as you can with 20-25% down.

A good option might be a hard money loan for the front end at high leverage (15, 10, or at most 20% down) and then adding value and pulling out equity via a DSCR cash-out refinances qualified with AirDNA projections. 

Your ONLY cost in a rental is the cash you come up with. 

Does it cash flow positively or is it all "upside?"

Purchase price: $174,000 Cash invested: $21,000 On-market 100 year old home, purchased from the MLS.