Since all the mechanicals are in the basement it goes without saying that the furnace, water heater, and electrical panel will all need to be replaced.

It has been listed for a couple of months now and not selling and here is what I know:It was purchased in 4 or 5 months ago as a short sale for 150kThe owner put mayyybe 15K into fixing a few things like electric, the porch, etc.

The discrepancy with this house is that it currently has 1 electric heating unit, and 2 gas heat.

Electrical Vendor trying to find out more info about reaching out to investors or flippers

That put the renovation bug in me and I hope to do that at my leisure as a sunset career.

Do all 4 units have separate gas/electric meters? 

As a tenant I have always been very easy and non confrontational, but after I found out my land lord, who is my neighbor, was running their jacuzzi off of my electrical panel, I've always had to question their integrity.

I'd upgrade the kitchen and the bathrooms--assuming the plumbing, electrical, roof, HVAC are in working order.

Roof, all plumbing, all electric, all HVAC, all gas lines, adding bathroom, moving walls, all windows, huge deck addition, drywall every square inch.

Rental Monthly Income $4,800.00 (8 rooms x 600) ------- 4800 x 12 = $57,600.00 Monthly Gross Operation Expenses Mortgage950.00 Taxes191.00 Insurance 166.00 Maintenance Housekeeping 216.00 Landscaping 60.00 Repairs 10% - 480.00 Operational Electrical 350.00 Water 150.00 Cable/Internet 150.00 Reserves 10% - 480.00 Total - $3,193.00 Annual Gross Operation Expenses Mortgage11,400.00 Taxes2,292.00 Insurance 1,992.00 Maintenance Housekeeping 2592.00 Landscaping 720.00 Repairs 10% - 5,760.00 Operational Electrical 4,200.00 Water 1,800.00 Cable/Internet 1,800.00 Reserves 10% - 5,760.00 Total - $38,316.00 57,600.00-38,316.00______________NOI $19,284.00 19284.00/46,000.00 (down payment) = 41% Cash on Cash Return (CCR)