Heating and Air Installation (no current ductwork)

[John Enochs]

I have found a deal that I am interested in - a 4 flat (including basement and attic) that would have good cash flow.  The one thing holding me back at the moment is the fact that there is no heating or air, something that I would want to add if I made the deal.  I've never done heating/air before, but am fairly handy and believe that I could do some of the more basic tasks.  I was wondering if anyone has done this, how much money they were able to save through the tasks that they completed, and an estimate to how much this might cost if I used a the most cost effective methods (have seen estimates of anywhere from 5k-15k).  

[Jim Adrian]

@John Enochs

By code you are required to provide heating.  Is it already there in the form of electric baseboards and you didn't see or recognize it?  This is not really a diy type of thing in my option.  I would have this professionally installed by an hvac contractor.  If you don't install this correctly you could have carbon monoxide leaking into the spaces.  Save the headaches for the pros. 

As for cost... It will depend on a lot of factors and the type of system you install.  I would call one contractor now to get a quote to give you an idea.  After you buy the place then get multiple quotes for the work.  I can see this being a $15k job based the little info you provided especially if they have to install ductwork.  Good luck!