Basement including electric service panel, heating system, water heater, meters for all utilities etc. 

Too much rock, too little water, too much heat in the summer, winters are nice.

When I represent a buyer on the retail side, the main factors are budget ($250K means Brockton, not Wellesley), commuting options (highways, commuter rail, commuter boat), Schools (refer to www.GreatSchools.org) and crime (I use Trulia's crime heat maps).For investors, it's a lot more about where the investor wants to be. 

Heat Map of highest allocation of distressed properties. 

Unfortunately, the market looks like to be heating up even more this year.

My parents converted the house into a single family (living downstairs, bedrooms upstairs).The house currently has 2 zones of heat, floor 1 = zone 1, floor 2 = zone 2.If my calculations are right...

I see a ~16% annual cash-on-cash return ($11k per year on $72k initial investment) using the following assumptions:Purchase price = $160k (20% down)Rehab cost = $40k Electric/Heat = tenant paidRent = $1,400/mo per unitIf you can get $1,600/mo in rent per unit then the return is 21% ($15k per year).Hope this helps and happy to answer any questions!

Most of them also heat. 

@Kevin Vandenboss when would I arrange for and get to have the walk through, check out the roof, HVAC, heating system things like that for example. 

Since there is no way to divide the heating bill evenly, the current seller rolls the heat into the rent.