My 2 cents: I grew up in the Chicago suburbs and go there frequently to visit siblings that still reside there.

Always do the follow up many times, soon and frequently. 

I have been travelling there frequently and started to look into MF there as well. 

I would make sure that your PM does frequent checks of the property to catch other problems early on.

The heat exchangers fail most frequently on the propane boilers due to the high acidity, low temperatures the propane condensing units run at, my friend who owns a 3rd Generation heating/plumbing company doubts those units will ever come close to outlasting a traditional 3 pass boiler.Agree the pros of having a propane boiler/furnace-fuel is cleaner, services tend to be cheaper, tanks can be bought or fuel company can supply tank, work great if you also have a tankless hot water heater with same fuel source.Efficiency of Maine does offer rebates as well for the high efficiency units, they don't mention this but, if you insulate all baseboard piping that is exposed in the basement, take photos and have a high efficiency oil boiler they will qualify as the same rebate as the propane unit.

The switch is a PITA and a notorious problem with other well owners down here because the switch is outside and exposed to the elements and fireants and frequently fail.

He works with OOS investors frequently.

Basically it is to deter long distance investors from buying a place and then becoming an absentee landlord...One option many use in this area is to register a tenant as the acting agent.Not the best move from a liability perspective for you, however it’s inexpensive and frequently done in college towns.Your other option is to work with a property management company, which is what the borough would like all landlords to do.

One of the biggest mistakes I have seen less experienced investors do when choosing their first one or two flips is thinking they can save a lot of money by doing a lot of the repair or upgrading working on their own compared with paying a licensed contractor to do the work and mainly because a person doing the work themselves are not as experienced at doing good quality work and frequently will take a lot, a lot, a lot longer to get the work done and if you are financing your deal they you will end up paying a lot more in finance interest and still maybe end up with marginal instead of good quality work and you are only delaying the date for flipping , reselling, or being able to get a property rented.

He who talks first frequently loses.