And then there's the annual rent increase, which can be substantial if you're not living in a rent controlled unit (like when my rent went up $200 after they did some major upgrades throughout the [224 unit] property including a new redwood deck for my unit). 

I know I haven't broken out expenses yet, but wanted to get a feel based on these factors. 

In the negotiations, I got the seller/builder to give me a $2000-3000 credit to use on upgrades in the base model of the house.

If you wanted to buy a computer and someone offered you one that was broken for 1/3 of fully functional price, or someone offered a working one at normal price, what would you do?

Long story short, I have to either spend a fortune upgrading the current well system or tap into public water in order to add additional units to the building. 

Has great potential to be upgraded.

If you are indifferently about doing the improvements now or later, consider asking them if they want the upgrades (and higher rent).  

It looks like they're more efficient, and with mini splits, you can also be adding air conditioning at the same time.I found a local electrician who is going to inspect the radiant heat system for me and he can advise me on how urgent it is that I upgrade.

However my crystal ball is broken so I could be wrong as well.

Hey everyone, just upgraded to PRO today!!