It has electric baseboard heat and no central AC.

Right now I have on the following on my radar:$3k (immediate): W/D and hookups$15k (~2 years): 2x heating conversion to natural gas and baseboard heating for 3rd floor$15k (~5 years): House sidingI've budgeted $500/month for capex and am putting it into a savings account.Down the line, once i'm under 80% LTV (5 years w/o appreciation), I'm not certain if I should consider using a HELOC for capex or try to rely on a savings account. 

Hi Everyone, I'm very new to all of this and need a little bit of advice.I am currently working with a real estate agent that I know personally, I will be her first multi family purchase shes new to real estate but has a mentor at her company that has been doing it for decades and provides a lot of assistance though she isn't available very often so we are sometimes on our own and learning as we go.I have been renting the same place for the past 10 years and the owner is selling so now I have to find another place to live, instead of renting for over 1k/month I decided to purchase a multi family, at first I was looking for duplexes but then came across a 3 unit the asking price is 180k, it is two 3 bedrooms and one 2 bedroom, it has a 2 car attached garage, washer & dryer hookups in each unit, newer heating systems tenants pay all their own utilities except sewer and water which is roughly 2k per year the house also has 3 seperate large storage areas above the garage, and it also has a decent sized back yard. 2 tenants have been there for over a decade in the 3 bedroom units and 1 tenant has been in the 2 bedroom for about 6 months.

For our region heat would be required but not air.

Also, keep in mind that the tenant would pick up some of those other bills (water / sewer / trash / electric / heat). 

@Bryan Clark I'd make sure all the systems and structure are in working order (i.e. roof, plumbing, hot water heater, heating, air conditioning, etc.).

Easy plumbing and electrical issues, basic heating issues.

If you keep shoveling in coal(dollars) it will produce ALOT of heat and keep you very warm, but when you neglect it or can no longer afford to give it coal, its gonna seize up and die.

and have run into a snag.The HVAC needs some repair/maintenance work, and we aren't getting heat into the building.

There are unfinished rooms on the second floor though which could be finished and heated, even with a bathroom so perhaps a roommate is possible with a shared kitchen?