The owner YTD has done $3500 in repairs to heating, electric, and gas utilities.

Keep in mind with the market heating up and cap rates compressing, the returns are affected as well.

. - Caterers will want/need dedicated kitchen space to heat/prep food.

How old is the home- are you incorporating longer term rehabs- like roof, plumbing, windows, electrical and Heating/ & AC?  

For example, I know that we must have heating and cooling, even thouh we're in Florida.

Purchase price $170K25% down: 42,500127,500 Financed over 30yrs @ 5.250 (Of course, yesterday the feds rose the interest rates.)Out Of pocket: $51,000 (Includes closing costs($10,000) and down payment.)Expenses: (Month)Mortgage: $704 @5.25%Taxes: $416Sewer:$150Insurance: $83.50Oil Heat: $50Misc: $100Total: $1,503.50Income:Unit 1 : $1000Unit 2 : $875Unit 3 : $800Total : $2,675Yearly:Income $32,100Expense: $18,042Total made after expenses: for the year $14,058Now for the amount i'm putting down would you consider this a good or bad deal?

The competition is complaining about the heat and are less likely to go out and do it.

Texas is heating up in pricing as well but you can still find good opportunity.  

Further, given the heat and continuing dampness its likely there's mold. 

Water could be heard moving through the heating pipes as well, which is symptomatic of air in the system and a possible failure of devices on the boiler meant to purge air, 2.