Back in 2014, I purchased a multifamily that was flip for 317K, I put in 40k into the house (finish basement, central air and heating. 

My builder thinks the units are small and electric heating should not be an issue.

If the heating system craps out and you have $0 in reserves you have a serious problem.Is Waterville mandating fire dept inspections yet?

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.