The really old house actually does have a lot of potential for someone who can either run hydronic baseboard or do ductwork and drywall (depending on whether gas is available or just oil).  

Maybe he is thinking about the 'big fish in a small pond' concept...?

Held on the 4th Tuesday for lunch at Whitey's Fish Camp.

Common HungerIf one person has the drive to work around the clock, burns the midnight oil etc, and the other partner turns their phone off at 5pm, takes weekends off and monthly vacations, the workload will quickly become imbalanced, resentment will build, and you will need to dissolve the business.Complementary Skill SetsDon’t partner with someone just like you.

It had a old oil boiler now putting in a gas boiler, using a new electric water heater for hot water.

Probably due to the roller coaster ride of the oil industry. 

I am getting estimates on replacing a old oil boiler with a new gas boiler to heat the rental house.

This house's basement was flooded to the ceiling, submerging the oil burning furnace, heating oil tank, security system panel, electrical panel, and water heater. 

This is your first deal- you should fly down to Midland (an oil town) and put hands on the property.

Rental cars get oil changes and detailing regularly and are in impeccable shape for purchase (they don’t use them after 50k miles).