The kinda' red wire may have been there so a switch can control one half of the outlet (receptacle) unit.
It is r4ecommended to run a new cable for the new receptacles, etc. all the way back to the panel. While the metal sheath around the existing cables can be a grounding conductor, it may or may not be sufficient and some additional examination and tests would be needed to determinine if it is.
Tornado victims: Do not rush to rebuild. Take your time and look for and get a good contractor. Or consider selling the property and moving to a home that is ready to live in.