But it's what my thoughts are and determines how we will operate and spend our money.

I have almost 100k saved and am more than willing to spend whatever I need to. 

There is definitely a stigma about electric heat.So, our current thinking, rather than spend the money on electric heating units, or individual Rinnai's for each unit, is to look at energy savings and heat loss. 

This would give some confidence that the property that you spend time and money vetting actually will be auctioned off. 

Quote from @Gabe Chase: Quote from @John Underwood: Just curious how much do you spend annually on all the 3rd party software you use? 

This is the entry point I’d recommend with high CoC returns and includes your downpayment (20-25% down), closing costs and the furnishing/design budget.  

Eliminate debt, establish a budget, and save.

Eliminate debt, establish a budget, and save.

Just depends on your buy [box] and budget.

Reasobable terms are relative, but that's a pretty serious budget for a property valued at $55K.