But please, make sure you allow for: what happens IF your "nice income" were to suddenly dry up!

I had an accountant try to self-service notes for awhile and I think he added some grey hairs too quickly and I was forced to find the Note Servicing Center in California.  

If there’s wood siding, is it in good shape or is there dry rot?

I have 9 units (Quad and 5 SFR's all on 15 yr mortgages), everything is going really well, things are cashflowing quite nicely (Bought when the market was down).Right now, the market is dry where I am.  

The last 6 months have almost put me out of business because the "deals" have dried up in the strong seller's market.    

It's not always as cut and dry as gross rents - So having a stabilized property (proving low vacancy/delinquency over time) where you can minimize expenses and maximize rents will get you the highest possible value.In my experience, usually only single family homes are valued by "comparison approach."

But, I was tearing my hair out dealing with buyers/agents/lenders on the sale side. 

You will lose hair and money.

I don't see a problem as long as you give it time to dry out before installing carpet.

If you choose to split hairs with the seller you can always consult your local electrical building inspector or you can simply not accept anything other than a fully new electrical system installation.