I would need to take a hard look at things like the fireplaces since there are 7 and I know in old properties sometimes they are not up to fire code. possible asbestos though the heat is radiant and it has central air, possible lead piping, and possible new electrical.

Question: The unit has radiant electric heat in the ceilings.

The expenses are often higher, heat and maintenance  can be expensive here and property taxes are very high, although there is a huge range from town to town. 

Michelle Fox Simple: Twice a year do a walk through while you test smoke detectors and replace filters on heating/air conditioning system.

Hardwoods throughout need repaired and it will probably have to be gutted and have vents run since it was boiler heat, etc.  

Jared Althoff I work for All Seasons heating and cooling.

Our thermostat is broken and the heat won't stop running unless we flip the emergency switch.

So, installing them outside or in a corrosive environment will shorten their lifespan.Regarding the relief valves...When water is heated, it expands.

Should I raise the rents and pay the heat bill myself?

Also make sure if it was newly renovated they didn't lipstick the property with carpet,paint, replace door knobs etc.You want big items like heating,a/c, roof, plumbing, electrical,etc. to have a lot of life left on them.If you buy based on inflated rents and then have flat to depressed rent in coming years, higher turnover and make ready costs, and high capital costs for large ticket items you could lose a bunch of money.Make sure the property insurance policy is not a master one insuring multiple properties as the owners policy could be low in cost compared to what you will pay.