The fourplex that I am looking at does not have electrical conditioning system, but instead evaporative coolers on all 4 units.I have not experience with this cooling system.Is it possible to bring the temperature below 80F when the outside is above 110F?

There's no exact science to it but like you said it's only usable about half the year (due to temperature, I presume) and then even when the weather is warm, it could be raining, so truly only available likely somewhat less than half the year - maybe an extra $0.15 - $0.20 psf/mo added to the $1 psf/mo sounds reasonable.

Inspection deadline is tomorrow.Thanks again everyone :)___For Context, boiler details:Approximate capacity: 105,000 BTU/hrEfficiency: ConventionalExhaust venting method: Natural draftApproximate age: 38 years 39 years 40 years 41 years Near end of life expectancy Typical life expectancy: Boiler (cast iron) 25 to 50 years Main fuel shut off at:  MeterFailure probability: Medium Supply temperature: 180°F The following issues were noted at the time of the inspection: 1.

Our big bills tend to be water (can get up to $180 on higher months) and gas (varies depending on the temperature) in the winter.

If you improve the property, say you go from a regular property to a temperature control unit, this will allow you to increase the monthly rents and hence drive up your revenue.  

The cold temperatures can result in really high heating bills, especially if the windows are old, furnace is old and little insulation.

I pick a geothermal as opposed to the mini-split Charlie mentioned because you would not need to augment the system with oil or gas since they have the power to heat at sub zero temperatures. 

What are some real world rates/terms/fees you've been gettting for commercial multi-family in recent months?

I have two primary questions for investors in the St Michael, Hanover or Minneapolis areas:1) What is the temperature of the market there?

I do agree that it is a huge risk and not for the faint of heart which is why I’m taking a temperature on here of whether experienced investors feel I would simply be taking a risk which requires certain considerations and precautions or about to do something completely stupid.