Natural Gas Furnace Risks

[Matt Brooks]

Good afternoon BiggerPockets! I am closing on my second buy and hold property within the next week. Currently the property utilizes Natural Gas for furnace, water heater, oven, and cooktop. The furnace is 18 years old and I am getting $5k back at closing for updates. I am considering installing a new furnace and transitioning the house to all electric. I will spend an additional $1k to update electrical to support. The house also needs paint, flooring, and updated appliances. Furnace is currently working. Should I update? If so, should I go all electric? Natural Gas and CO just cause me a little more concern with renters. Thank you!!