With good reliable management and a strong team it can be done :) I would reach out to @Frank Procopio if you want to discuss investing as he is a local expert in his field .

i would very strongly recommend that you put the new wiring in for a couple reasons. 1 is obviously most people who are looking at older building wiring is going to be one of the first concerns that are going to pop into their mind so its good to be able to put those concerns to rest. second reason is just more personal. if you are holding the property to rent to people and old faulty wiring caused a fire and someone were to be hurt i think that would weigh very heavy on your conscience. i understand we are all out here to make money but wiring is a major cause of fires and i think we as a community have a responsibility to put people into homes we would happily put our own families in.  

(Lease to purchase options are very rare in DC, particularly in Capitol Hill because the RE market is so strong!) 

The path to success is non-linear and you will need a strong mindset to push through to the part where you experience rapid growthGood luck and don't forget about me when you are worth $50m!

Keep the strong screening criteria, just market harder and lower the asking rental amount/SD so you can create more interest!

The only real positives are a strong cash flow on the 4-plex, zero dollars left in the deal, and the fact that the new property is in my current home town. 

Some background information: I've got a strong track record over the past 5 years with buy/hold duplexes but would like to get into something a little bigger.Thanks in advance!!!! 

@Jeanysha Jean-Baptiste - I strongly recommend a house hack.

I work in Sports Television Production and have a strong background in Dance.  

I guess I want my cake and eat it too because I want to build on the lot but want to keep it.