The remodeling process, electrical work, carpentry, cabinet installation, and kitchen renovations provided extensive learning opportunities.

Reasons are: building is too old (1956), systems are too old (electric updated in 1992), roof too old (metal roof since 1990s, great condition). 

Look for the big ticket items (HVAC, roof, electrical, plumbing/sewer, or septic).

I have moonlighted for several Architects and through hard work and good fortune stumbled on an opportunity to become an apprentice electrical engineer. 10 years later I am a senior engineer, together with my wife, have a decent portfolio of Real Estate.

"Ann, I work with investors in Houston all the time—those 1930–40s builds often need updates to plumbing, electrical, and foundations, but they can cash flow great once rehabbed.

I paid a contractor $5k for some excavation work and to lay conduit for water and electrical.

Additionally, I recommend checking all the systems, such as the HVAC, plumbing, and electrical, to ensure they are in good working order and to proactively address any potential issues.This looks like a great opportunity for your first rental property.

All utility statements: electricity, water, sewer & garbage, INSURANCE, road snow plowing, septic maintenance agreements, lawn care, hot tub maintenance, internet, and supplies.

I do know the GC company name and the Electrical contractor , but wont put that out here ,  I did talk with lead on the job and he said he will quit before he goes back there . 

Opened up floor plan, expanded master bedroom, HVAC replaced window units, fenced in yard separating two lots, complete replacement of electrical, added gravel drive and all new materials inside in terms of flooring, appliances, fixtures, etc.