Install HVAC in rental and be broke or NO?

[Mike Nicholson]

Hello!  In need of some advice and I know you guys can help me.  I am a small time landlord in South Carolina, currently only 3 rental homes.  I have an older, 1200 sq ft rental home (1940) I have rehabbed and turned into a rental, own it free and clear.  I currently have 2 window units for A/C and a small wall mount gas heater for this house.  I have rented this home for approx. 2 years and the past tenant says there was no problem cooling the house however when it gets really cold it is hard for the small gas heater to keep up.  I have researched  2 options.  1)Install HVAC, central heat and air unit,  or   2)Install gas furnace that is big enough to heat the home and keep the 2 window units for A/C.   The huge difference is the money involved.  I have received 4 quotes for HVAC system, duct work and all, anywhere from $7.5K to $10K.  Quotes for new heater is around $1,500.  Huge difference.   I have built up around $10,000 in the account that I use to run this rental property out of,  so the money is there.  I just don't want to completely drain this account for this HVAC, 2 years worth of cash flow for this property!   I plan on keeping the property long term and keep renting.  Should I spend the money to install HVAC or install the big gas heater and keep the window units for A/C that work just fine for this house.  Yes, I am leaning towards putting in the gas heater and not the HVAC.  Your thoughts? Any help would be appreciated. 

Thanks,

Mike

[Nicholas Scatton]

you can get a 2-4 zone mini split system online from $700-2000. could be a self install or a relatively cheap installation.