Otherwise, the renters could be bitcoin mining or driving 2-3 electric cars and you’re paying for everything. 

No personal experience here but here's a helpful reference from someone who wrote a blog about different aspects of a 2 flat remodel in Chicago Scroll to "Two-flat journal 6: How to make an all-electric house" - - speaks a little about heat pumps and cost In the HVAC section.  

However, due to my college and career experience I can handle any of the electrical work while following the NEC.

Also, Rivian is a new electric car manufacturer that is setting up in the old Mitsubishi factory in Normal.

In my specific case, the tenants pay electricity & gas, but the previous owners were paying for water.

The owner pays for all the bills currently 575 per unit, which include water, electricity, internet, and cable.

For example, certain electrical outlets that are dedicated to equipment such as appliances or computers should be depreciated over 5 years.Benefits of Residential Cost Segregation Although the cost segregation process may appear complex, the benefits of conducting a cost segregation study on residential rental property are both practical and significant.

I have recently reached a point where the existing electrical components of the home are in need of replacement.

So, with that said, if you followed that concept, it would depend on whether you were responsible for the electricity currently.  

I think @Jeff S. nailed it.If you were determined to buy this I'd give some thought to a small office cluster for therapists/ practioners like counselors, massage therapists etc.