@Brian Gibbons  great message I love how everyone express themselves on staying motivated..When the heat is on just keep pumping no matter what 

(Year Built, Siding, Roof, Basement, Foundation, Heat etc.)Page 2 - The NumbersCost to Purchase, Closing costs etc.Cost to Repair (Clean out, New Floors, Painting)Holding Costs (Taxes, Insurance, Utilities)Anticipated Sales Price, Closing Costs, Commissions.Profit and Split.ROI.Does anyone see anything I should be adding?

The property was converted from an oil based heating to a gas based heating system.

Because of a bed bug issue (all tenants left, whole building needed heat treatment, I was pretty heated myself...)- And many more...I am not necessarily richer than before I invested in RE but I'd say my life is somewhat richer...I am never bored.Please send me a message if like me, your parents are source of inspiration and if your love for real estate does not get tarnished by your "love" for bed bugs and dealing with ignorant lenders...

There are heating and cooling units similar to what you see in a hotel that can be low profile from the exterior. 

Divide those costs up over the remaining number of years of life for those major systems, and then add a bit more because while you may want the heating system to fail at the end of its life, Murphy's Law says it will fail years before then, so you better start saving.If you do go through the purchase, I would treat those capex dollars as spent dollars and put them aside in a separate account.  

@Austin Snow Sunnyside is getting very hot, feeling the heat bleed northward from Highlands.

I built a custom home last year in Northern NH for about $180/ft but that had a private well and septic with higher end finishes (quarts, custom cabinets, radiant heat, wood floors, ceramic tile, cathedral ceilings)

Once we get our finances under control (had to put a whole new heating system last fall, frozen pipes, and lead removal has set us back about $35K in the last year so always plan for the unexpected!!)

Your friend is correct in that the market has heated up enough to where all the low-hanging fruit has been plucked, at least as far as small multifamily properties go.