The inclusion of additional units could potentially increase my qualification for higher-priced homes, contingent on the rental income they generate. 

Your property definitely has the potential to benefit from a cost segregation study.

Also need to look into the purchase price, renovation budget, and then potential rents per month.

Upper Arlington (43212) is an established Class A neighborhood with good schools and potentially stable rental income.

The house's electrical system seems to be functioning properly, but given its age, we're wondering whether it would be beneficial to replace it entirely( I.e update the whole electrical system) My question is this: Would installing a new electrical system increase the value of the house and make it more appealing to potential buyers?

The optimal course of action is contingent upon an individual's investing objectives, risk tolerance, and personal preferences.

The NAR settlement is not even yet approved so I would not be making any decisions based on a potential settlement that could be amended.

Examine the property's state, rental revenue, and cash flow while taking location, condition, rental prices, and future appreciation potential into account.Assist your real estate agent in negotiating the conditions of the acquisition and submitting an offer.

So, those risks need to be managed well, which is the main reason why I don't do them.Good luck.

When I'm in doubt of a potential cost I get the written bid before I even make an offer or while I'm still in my inspection period.