How is the heating system, the a/c? 

The formula I would use is 5 total occupants small house pays 1/5 large house pays 4/5.if the heat is also gas I'd do it by square footage - 3/4 large home 1/4 small home.The formula is only part of it.

    - fire or burglar alarms    - underground tanks (active or inactive)    - knob & tube or aluminum wiring     - fuses5. what are the years that the Roof, Electrical, Heating, & Plumbing were last updated6.

The tenant never told me the gas was shut off and the heat was not on.

Take the cost of the home long term add the mortgage, taxes and true repair costs such as upkeep and new roofs , heating and cooling mechanicals etc over the years.

Can you heat that sound?

Schooling in my town is amazing, so there is no issue with that.Transportation to NYC is literally 2 minutes on every corner to the bus, so that isn't an issue.Additionally, I was told that I should stay away from homes with oil tanks for heating because if the oil tank was to leak, the soil would be contaminated and it would cause a big headache and a big whole in my wallet.

Thanks to all who've responded - these are all good thoughts and great advice.The only timeline for completion is that the house is just sitting there and I'm paying taxes on it and will be paying to keep it heated this winter. 

We could examine crime maps and cost per square foot heat maps against typical rent if you would like to become more familiar with this market.Best investing,Donn  

With the market heating up, my deal making also started to slow down.