It should give you some starting Insurance info to consider:Here are some things to look for from an Insurance prospective:1.Any in-ground tanks (active or inactive)2.Any Knob & Tube or Aluminum Wiring3.If built before 1978, does the building have Lead Safe certifications4.Any wood stoves or secondary heating units.

No heat and major issues with AC.

@Sameer JainPer https://www.solo401k.com/how-to-qualify-for-a-solo-401k-account/ ...Opening a Solo 401k account requires two elements of qualification:You must own a businessYour business must have zero employees (employees defined as those who work for you more than 1000 hours per year and receive W2 wages)Can I own a business on the side of the W2 job I work?

Another HUGE element of the action plan is mindset (often overlooked). 

Can call a plumber for $100 Water drip from faucets Always buy high quality faucets No hot water Either a problem with the water heater or it might be a heating element inside Bugs/rodents Educate the tenant they can't leave food around and be messy Hire someone to remove (couple hundred) Say in lease after a few months it becomes the tenant's problem Garbage Disposals Try not to put these into rentals Something might be stuck, or the motor might be burned out which will be a couple of hundred bucks from a handyman Toilet water leaks Pretty cheap to fix, probably a problem with the flapper.

The unit I live in has the oil burners (controls heat and hot water) and electrical boxes for both units.

Looks like a good and profitable deal.I would ensure the expenses paid by landlord are fixed (heat, electric etc - I don't see them broken down).

As long as he gets a certified electrician to do the work and doesn’t cut holes in walls or ceilings for exhaust ventilation( the lights can get hot and the heat needs to be removed) you would be fine.

My budget before is $1,200 a month but looks like I will have to spend more- Any other elements that I should add to the policy?

You also want to look for wear and tear from where the sun hits the exterior most often as there could be issues of heat exposure to some parts of the home.