Philadelphia area, Chester county to be specific. 

Last time I did that, my costs came in right at $1000.The OP is vague because it does not address size or location of heater, type of fuel, self-install or hired, permits required or not, and whether or not they care about a specific brand.  

@Robert Maxwell, my advice: listen to the first 300 episodes of the BiggerPockets Podcast and then return to forums when you have a specific question.

I was wondering if anybody had some area specific issues to keep an eye for and what are the BIG problems to avoid.

Bailes, I've delved deep into the complexities of vapor dynamics and the importance of tailoring retrofit strategies to the specific needs of older buildings.

For STRs, you're going to price according to your market but also most likely using a dynamic pricing tool to take into account location-specific demand fluctuations.

@Jason Allen a wise question, but there's no specific industry standards in the SFR area, like there is for MFR.Read below for what we use:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.When investing in areas they don’t really know, investors should research the different property Class submarkets.

New investor here, looking to get started on flips and value add projects in the Denver area.After spending many hours buried in property records searches and financial spreadsheets, I've determined the best way to move forward is to enlist an agent who caters specifically to buyers looking to capture value from rehabbing run down and distressed properties. 

Their situation was a little specific as they lived in and operated a business out of their home so they signed up for a NNN lease, and the property was dual zoned residential and commercial so we were able to maximize their value.  

Also worth noting, unlike the stock market where you can buy into the broader market and the market price is set, real estate you are buying a single specific deal where prices are not set.