Supplemental heat kicks in when heat pump can't keep up - this increases electrical costs.  

@James LittleWe also had to have the electric tested.

Check the electric, check the mechanicals, be absolutely sure you're not buying something that will cost as much to renovate as you paid for it.

I have the electric and water turn on recently.

And that was high end finishes, brand new plumbing, electric, recessed lighting etc... 

Also need to keep in mind how the electrical is going to be run. 

A quick look at our electric utility website and I found the following:"Energy Counselors are more than happy to schedule a site visit to your home.

You need to put something in the lease that basically states: Tenant acknowledges they have examined the apartment and all furnishings, fixtures, plumbing, HVAC, electrical facilities, and all other items provided by landlord are in clean, good, and working condition except as may be indicated in Addendum A.

The utility companies turned off both the water and electric for non-payment (of course the tenant is in jail).

J-Scotts rehab book is great and lists order of items.Here is a rough list:1) Gut2) Framing - Roof, Siding, Windows3) Plumbing rough in4) Electrical rough in(You can run electric and plumbing at the same time, but I found it is easier to move electrical than it is a vent stack for plumbing)5)HVAC6) Drywall7) Trim8) Paint/Spraying9) Finishes & Flooring, Electrical/Plumbing Final, landscaping10) Clean, paint touch ups & Appliances