**Heating System: Lack of Heat in Some Livable Rooms** - Several 'livable' rooms had no visible source of heat.

And be sure to smell behind cabinets-especially kitchen cabinets that don't go all the way to the ceiling (cats sit on cabinets and pee right there), bottom of doors (urine drips down door and runs across the unpainted bottom, it gets absorbed and still smells), any heat/ac vents on the floor or low on the walls (looks like a litter box to cats), thresholds (pee at the door and the pee runs between all the cracks) behind toe strips, baseboards, etc.)

And with what -- at least here in Denver and Colorado Springs -- is a market that's heating up again, I'd want to keep my momentum going sooner rather than later. 2.

If the cash flow on the existing properties goes close to breakeven, seems like you would be increasing your risk of large capital expenditures, like roofs or heat pumps, without cash flow to sustain them. 

Do energy efficient upgrade tax credits (for new windows, doors, heat pump, etc) work for rental properties? 

You are also in the northeast which is crazy expensive to heat, especially if using electric heat.

Tenants used the propane for 9 years, then we decided to switch to heat pump with central air and stopped using the propane.

. $225KProperty Features:First floor: 2 bed/1 bath, potential rent $1,200Second & third floor: 4 bed/2 bath, potential rent $1,500Separate utilities and heating/central AC systemsInitially, I projected over an 8% cash-on-cash return.

It's mainly used for heating and the fireplace.

Running the heat is not nearly as costly as flood damage.You winterize by (at minimum) keeping heat on and draining exterior and unnecessary plumbing.