I've looked into splitting the ducting and plumbing for an additional furnace and hot water heater, but the estimates for that were far outside of my budget.My two options are to either include the gas in the monthly rent by adjusting it accordingly, or to split the bill each month between the two tenants.

See if there is any deferred maintenance on the property and estimate the costs of repairs.

In need of a roofer for 900 ft/sq home; estimate needed Northwest side

In order to arrive at  that, you have to a real handle on AVR (the price you will expect when you sell), the rehab construction estimates, knowing your fixed costs and selling costs.

In fact, my estimates are that our average cost basis for each of its properties is about $40,000.

i have to schedule a visit cos i honestly cant even estimate the repair cost (which i must factor into my offer) before i can even make an offer. i will have my agent make that appointment happen.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookPaul

In fact, my estimates are that our average cost basis for each of its properties is about $40,000.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookI have a report a walk around the country and emerging markets email me for a copy,Paul

I have received estimates of $250,000 to cover most of the repairs.