This is why the HOA has an interest in your insurance coverage.The HOA is covering the outside of the units BUT - if you are unable to rebuild the inside of the unit because you don't have the proper insurance that is bad for all the owners in the association so that's why you are getting heat about having the correct coverage.  

It's rare for tenants to pay their own heat in NYC (it does happen in newer buildings, though I'd be surprised if a brand new 2 unit in Queens would be going for 400K), but even assuming they do, you need to pay for electric in common areas and I've never heard of a tenant paying water in NYC.

It doesn't have heat or a/c but the electrical was updated 3 years ago and the owner/occupier of the property has made a few improvements including siding, paint, wood rot replacement, electrical.

Our initial plan for the next couple of years is to get rents to market, and see what we can do with the water and heating bills.Over the next few years, we will build out our buy and hold portfolio in the Toledo area.

I stress that regularly changing these will help greatly with heating and cooling costs.More often than not there's still 11 in the box when they move out.For many tenants the only way to make certain these will be changed out regularly is if I go over and do this myself.Gail

The unit I am living in is a 1 BR/1 BA on the second floor of the building...the door to the attic is right outside my entrance and goes up to a big open area that USED to be 2 additional bedrooms, however, it has been vacant for years as there was a fire in the 80's.My handyman took a look and agreed that he could definitely add the 2 bedrooms, no problems...I know egress windows will be a major factor and I am also looking into the heating and electric to make sure it is linked to my unit's heater/panel.What else should I be looking/planning for?

If I was a tenant I will not want my babies near a electric heated furnace.

It’s funny you ask one of the houses I am looking at is on a slab with all electric heat.

I prefer natural gas heat .

I go to Trulia for a lot of the same stuff, but also the crime heat maps.