In Wisconsin the median family income can still buy/afford 1.9 median houeses. 

If you decided to go with a R/T refi the LTV could be as high as 90% assuming good credit. 

Buyers may be approved for a specific loan amount but not truly able to afford it.

2) If I don't replace K&T now, are there any additional precautionary measures I should take to further insulate the wiring?  

The 3rd party inspector also informed me that while K&T is a red flag, it's not illegal .Additional context: We like the location and upgraded all the window AC units to one central unit for one unit and mini split systems to the other two units.

I just saw a youtube video claiming that if you don"t set it up in the state of the property then you wont be able to do evict a tenant in that state with an out of town LLC. does anyone know if that is true?

Sometime the LTV limit is determined by how much they calculate you can afford. 

Rental for a few years and sold to transition to a more affordable market with higher cash flows.

well as long as you dont have affordability issues in the future like the Bay Area  this will be a nice win for the area.  

@Kevin Jennings Its hard to find deals that meet the 1% rule on market, even in my market of Louisville, KY which tends to be pretty affordable.