That is why I said I just "suspect" it, based on the conversion I had with him which makes me very sure that he is interested in making the deal happen only if he earns 3% buyer agent commission and that this property is listed way lower than market value and the listing agent said they haven't received offers.I am in Florida and I don't know if it is legally required for listing agents to present all offers to sellers.

I suspect going back to the main panel will be a lot more - the main panel might not have enough breaker positions so that might mean a new panel, and then every circuit from the sub-panel then has to be run back to the main panel (you might have places where a splice box could be used, but what would be the point of the rewire).Leaving two prong receptacles for ungrounded circuits is acceptable by code; in fact, if you were to replace two prong receptacles with three prong receptacles that are non-GFCI on any ungrounded circuit, you then have introduced a code violation.

Not disagreeing with anyone but to me it seems markets make new highs or they get obsolete.. like Detroit or Rochestor or Buffalo where I suspect prices peaked in the 80s and 90s and have been in steady decline every since.. ?????  

I suspect that what you really did is use commercial financing to purchase a multifamily residential rental property. 

I have suspected that they (or a previous owner) may have encroached upon my property when landscaping.

And I do suspect that in certain areas like really economically challenged parts of Chicago, St Louis, Detroit, LA, (insert any big metro area) there are parts of town where crimes go un-reported because its not culturally acceptable to turn your neighbor in.

I personally think that, ALL THINGS BEING EQUAL, holding forever is the simplest, least stressful path to wealth in RE.But some people, like Joe for example, clearly thrive on the process of recycling, and I suspect the thrill of the hunt.  

@Eric Hicks Best of luck, but I suspect you have bigger problems.

I am currently pursuing other local banks but what if they all refuse to provide financing.I suspect I still have the following options:- different banking institution- hard money- owner financing. 

The last thing you want is for a prospective buyer to notice minor paint issues, cracks or other cosmetic issues and use those to look harder for additional problems s/he suspects may exist.