What should I expect cost wise with oil boilers? Deal breaker?

[Danny Rodriguez]

I’m looking at two deals that can make me $700- $1,000 monthly profit. After mortgage, taxes and insurances. Both have oil boilers. What should I expect? Is it a deal breaker?

[Mike Dorneman]

@Danny Rodriguez I’m in NE PA, and have oil burners in about 12 over my houses. Unfortunately natural gas isn’t available in many of the smaller towns out here.

They require annual preventative maintenance, (approx $300/year). As for oil cost and consumption, it’s can vary greatly. The efficiency / age of the furnace, the insulation value of the home, the windows, the temperature the tenants sets the thermostat at...

With all these factors, I would never include heating oil in the rent. This is an item just like electricity. Always set up in tenants name, never ours...