@ Zoran Miling tanks for answers.

Nfip ONLY covers electric panel, water heater, heater/AC, fuel tanks (if used for heat), basically only mechanicals used to service the upstairs and that's it.

That's great, but the employee was correct in saying shark bite connectors are code and are faster.  

The house would probably appreciate better, you'd have less tenants to deal with, you wouldn't be surrounded by a landlord who could easily tank the value of your investment by liquidating the block.

We also have had our version of Shark Tank where investors pitched their properties and got deals done.  

If it works take it to Shark Tank!

At 2AM when a hot water tank bursts, who is going to answer the call and drive over there to stop the damage from getting worse? 

I have a hunch that the Boston market is going to be taking a bit of a dive due to a lot of the college/universities moving to remote learning, tanking rental demand. 

This is a high risk market and the economy is in the tank.

I am selling it for $25K and after the work is completedthe numbers will look like this:Two hot water tanks (1 for each unit) - $800 x 2 = $1,600One new Furnace - $1,200New electrical - $1,100Two new bath tubs (1 for each unit) - $1,200 x 2 = $2,400Two new toilets (1 for each unit) - $500 x 2 = $1,000Two new sinks (1 for each unit) $350 x 2 = $700Two new stoves (1 for each unit) $500 x 2 = $1,000Two new refrigerators (1 for each unit) $600 x 2 = $1,200New carpet for each unit - $3,000 x 2 = $6,000New paint for each unit - $2,000 x 2 = $4,000Tile for kitchen floor each unit - $500 x 2 = $1,000Total Estimated rehab costs - $22,200Purchase and rehab costs - $44,600Estimated after rehab value - $90K Purchase and rehab equity - $45,600Purchase price equity - $68,000Gross monthly rental income each unit - $550/$550 = $1100Estimated gross annual income - $1,100 x 12mos = $13,200/yrGross annual return - $13,200/44,600 = 29% returnWater/Sewer - $150/mo.Taxes and insurance - $150/mo.Property Management - $110/moTotal Expenses - $410/moNet monthly income - $690Net Annual Income - $690 x 12mos = $8,280/yrNet Annual return - $8,280/44,600 = 18.5% returnEstimated time for completion – 6 weeks (45 days)