These rentals are like little oil wells.  

-Alonzo [keyword trigger: Permian Basin west Texas Advice help oil field Odessa Midland 79762 asset investment real estate single family home SFH meat and potatoes]

I am currently getting unemployment (got laid off from the oil and gas industry). 

We sold it when we moved to Alaska 11 years ago, settled into a new job, sat on the sidelines while the economy slumped due to low oil prices, and recently purchased a SFH at a reasonably good price, rehab'ed, and rented it to a great family.  

A good example was buying homes or building homes in North Dakota during the oil boom just a few years ago. 

In my area it's slow...oil is down..many out of work so it's a buyers market.

Boiler Issue - The property uses oil fired water baseboard heating for all units (fuel paid by owner). 

There are plenty of folks on the forums who are anti-turnkey, but you also want to evaluate it from several positions:1) You have a W2 job and don't plan to quit it to do full time real estate.2) You have no connections whatsoever in a marketplace that you like.3) You want to avoid the cost and time overhead of linking all the pieces together.Well oiled turnkey operations do make their money up front.

Total rent $3500/month.165,000 purchase price, 5% down with a 30yr MassHousing conventional mortgage.Taxes: $3850PMI: $828/yrInsurance: $2400Electric: ~$1,560Heat (oil): $6,600 (by far the biggest expense, the utilities aren't separate, there's only one thermostat/heating system for the whole house).Vacancy: $2000/$2500Rent is $2000 for the top unit, and an additional $500 if we rented a bedroom out in our unit.$8,250 down$4500 closing costs(~$7,800 for 6 months reserves required by MassHousing)Is this property worth it?

Becuase it is oil based is stays for about 7 day and while sleeping on the ground it will make you eyes and skin itch.