Also understand with FHA, you cant buy something that needs functional rehab.

You want to get warm moist air out of the building envelope.I'd get an electrician for sure, since some of the breakers (notoriously FedPac) have a tendency to get real hot before they trip - Which is not their intended function :)

@Zak Marinko  I like the mapping function on HomeSnap.com once you are looking to get rental comps for your building. 

Since I purchased the home I made critical updates like new roof, windows, new exterior paint and landscaping.

If the kitchen and 2 baths are functional but haven't been touched since the 60s those updates could easy hit $100k+ and there goes the margin for your buyer.

Anyone over 60 years old has probably been thinking critically over the last 6 months about their retirement. 

No your initial down payment & sweat equity in increasing the ARV functions as your down payment.3.

From there it's a personal decision that only you can make.As to the some money better than zero money questions, that's a function of your current capacity and how much profit you are seeing from managing these properties.

Its a critical decision and one that could impact asset protection and tax implications, depending on which way you go.

Transaction Coordinators cannot give specific advice on what to do (they are not functioning as licensees), though they can sometimes explain options and give general information on how things work.