Those old homes had knob and tube wiring and smaller service panels that will not stand up to today's electronics usage.

I’m just starting out and I have been you tubing and reading as well.

I would suggest listening to BP podcast but also You Tube Mark Whitten Breakfast Club interview,he breaks it down so simple. 

First me and my husband went to educational courses, learned a lot on you tube.

Dip tube on the water heater.

It should give you some of the things you will be looking at in the Homeowners Insurance process:..I can give you some general info on insuring the property: Here are some things to look for from an Insurance prospective: Any in-ground tanks (active or inactive)Any Knob & Tube or Aluminum WiringIf built before 1978, does the building have Lead Safe certificationsAny wood stoves or secondary heating units.

Is the wiring knob and tube?

Scott's The Book on Flipping Houses, the positively portrayed in that book and in the you tube videos is what drew me to BP. 

Through the program, the insulation is 90% off, and then I can take an additional $750 off for a knob / tube inspection.

They have changed most of the electrical, there still is a little knob and tube left that they will probably have to fix before lender will loan us the money probably if we decide to buy this.