Here are the inputs:Purchase Price: $400-450K per propertyDownpayment + Closing Costs: $90-100K per propertyMortgage Payment: $2,000 - $2,200/month assuming $2K/year taxes and $1.5K/year insuranceTotal Monthly Rental Income renting out all the rooms (6 bedrooms x $700 rent per room on avg): $4,200Total Monthly Rental Income renting out all the top rooms (3 x 700) and renting the bottom unit to a family ($1,700): $3,800Total Net Rental Income Before Utilities/Maintenance/Reserves/Capex:  Low: $1,600, High: $2,000Utilities: ~$400 assuming that you pay for everything, internet, heat, electric, gas, water, storm drainageMaintenance/Reserves/Capex: $400 to have enough to cover any items that could need repair, maintenance, etc and accounting for age of house and more wear and tear Total Net Cash Flow Per Month: Low: $800/month High: $1,200/month, Middle: $1,000/monthAlso, I didn't include you adding any extra rental income for for adding utilities to rent/garage spots rent/etc, so these cash flow numbers are very conservative but realistic. 

Hey there fam, I'm finding quite a few older 1930-1960's duplexes and fourplexes in my general area here in DFW that don't have central heat/air. 

It may be worth $300M but needs a new roof, doesn't have permanent heat, no plumbing, etc..

We would have to see if there is a way to either install heating/hot water metering or repipe, then install meters.

Completely renovation the kitchens, fresh coats of paint throughout, stainless steel appliances, new toilets, lighting, Ceiling fans in every room, removing the baseboard heat and adding individual room heaters.

Judge interpreted the legal precedence and stated that tenant is one of comfort, not being inhabitable having to do with things like water, heat, etc, as precedence has set in OH.

Assuming of course that the finishing work was permitted and performed to code, and the new room's use conforms to habitability laws (for example, the bedrooms meet minimum dimension, ventilation, heating, and ingress/egress requirements).

A good one can heat an entire house.

All units are cleaned well and some updates have been made to paint, flooring, bathroom fixtures, and 4 new windows.Here are the negatives: No central heating or air, built in 1946, the duplex is metered together & costs approximately $150 per month, there are small waves in the flooring in 1 of the bedrooms, no stove or other appliances yet added.My thoughts: Some of the numbers seem too good to be true but at the same time I can't help but see big rehab numbers if I need to get HVAC and ducts installed (this makes me the most nervous).

I've poked around the marketplace but I'd really appreciate a reference to an eastern Kentucky licensed realtor who is internet savy and has the experience to list 277 acres w/a house and barn w/heated conc flr about 10 min from Natural Bridge State Resort Park, Wolfe County, KY.