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?

Hello, I'm in northern MN, and looking into getting into investing, and am looking for some advice.I'm looking at a 4 plex locally with 4 2b 1ba units.Cost is $160k, but I think it's worth closer to $180k.Yearly Rent is $26,760.I would use my heloc for down payment so basically financing the whole thing.Love the locationHas 1 lifer(been there 7 years) the current owner has not raised rent on in a while and I probably wouldn't either.Taxes are $3000Tenants pay electricAverage local income is $35K with average house price is $138,582.Seems like even @ $165k I'd be doing pretty well.I'd self manage, and fix issues, but from what I can see, there are not any pressing CapX's needed.Not sure on cost of heat yet.Any other info needed?

Ceiling texture removed, ozoner used, industrial deodorizer, kilz primer to seal, new paint, all flooring except tile in bathroom and kitchen removed, it had no heat ducting.  

Although electric heat is still pretty meh, I'd hope that would cut some of your costs as well as potentially help renters if that's what you decide.

Heat and chemical.

Because heat rises (so they're efficient) and they don't dry the heat out too much.

Also, the house that we rented is a really old farm house, the only source of heat is the wood stove so it's hard to maintain the temperature in the house.

I have begun using Carbonic Heat in my units and have no more mold issues. 

Peoplestown seems to be heating up quite a bit.

You have to draw a line somewhere.I find timely fixes like paying extra to fix the heat on a Sunday in January endear you to a tenant more so that what shiny new object they can get.