Once you get north of Brunswick and a little away from the coast, prices are really low, especially compared to Portland.Oddly, it's fairly common for rentals here in Maine to include heat in the rent, so if you're out in the middle of the winter and need to warm up, you know your tenants will have their apartments at a nice cozy 95 degrees. 

(A side note: one thing a lot of landlords don't think about is how hard it can be for a tenant to swallow a $300+ electric bill in the heat of summer when the AC Doesn't turn off.

Last year they put in a new oil heat and 2 gas hot water heaters, painted most of the building, and started to do interior work.We bought this building for just under a 12 cap not counting the money back.

@Dustin Espinoza What kind of heating system does it have?  

I'll step into this, in the full knowledge that we have a heated debate going on elsewhere about why you absolutely do or do not need a property manager.I live in a very affordable city and own a small, local portfolio of low C-class SFR and small multifamily.

I just purchased my first investment property and it has old steam heat. the boiler is getting old even though it could get through a winter but I would like to upgrade the heating and cooling system.

The team that went in was the Worcester Board of Health, Life Assistance Homelessness Reps, Worcester Police Department (carrying heat) and myself as the property manager representing the property owner.

For example, I provide water, garbage and tenant does cable, heat and electricityThanks

I had one we inherited who did maintain the building & I needed him until I got familiar with the idiosyncrasies of a run down 6500 sq ft conglomeration of 6 apartments added over 30 years & a myriad of wiring, hydronic heating & plumbing that seemed to go no-where.

I would rather see $150/door on a property with brand new mechanicals than $250/door on a property with ancient heating/electrical systems.