The townhouse she is currently living in, is your classic little old lady house.

Nickerson is a classic, but the best business book for the small business person on WHAT TO SAY and HOW TO PERSUADE is this one...http://www.biggerpockets.com/blogs/3/blog_posts/31740-best-book-for-small-business-owners

Its weird because there are crappy run down apartments and houses next door to beautiful restored classic mini mansions.

If you can't take it all the way by getting a gas fired FHA system with central A/C it might not be worth just getting a different boiler system.Radiators aren't bad and if you do some restoration of the classic period features of the old house they can still play off well with that.Unfortunately NOT a clear cut answer on this.

I was In classic paralysis analysis mode for three years and missed out on some sweet deals.  

That is the classical road to bankruptcy!

If you are in a wholesale mode and looking to turn properties quick, then it looks like you have a winner.Either way, it sounds like you made a great buy with multiple options which is the classic definition of a great investment property.Good stuff - Chris

Then with just a couple of k, I might not even buy a book..I have blog on the classics of landlord lit, and they are old and in the library (free) and a bigger pockets blog (by Carson) is up now and has a nice list for beginner investors and those may all be in the library, too, or at least the older editions...that should keep your mind active a few months....then for the future months, just keep learning and saving up for the first property to buy and hold or flip, etc, whatever your chosen strategy...Best of luck 

Once you get your immediate questions resolved, you may also want to look at the larger landlord picture to get some ideas about the future people and property issues you'll  face.I did a short blog on some "classics" of landlord literature for newer landlords you may like.

As an investor and realtor in the local area, I can tell the classic answer to all of your questions, "It depends." -- Occupancy - Varies greatly.